“
Jan-Sept 2024 global average temperature represented 1.54 (±0.13) °C above pre-industrial levels.
Ͱͷ % The International Energy Agency’s suggestion of the proportion of energy derived from fossil fuels by 2030, to keep Ì i£°xc Ì>À}iÌ ͳͷ % China will install 60% of all renewable energy capacity worldwide between now and 2030
However, as with the above targets, there is also consensus across the academic and business communities regarding the broader pathways to attain them. For each pathway, we assess its feasibility, considering the current trajectories, political promises and potential obstacles involved. Tripling Global Renewable Energy Capacity The last 14 months or so, saw over 200 countries pledge to triple the world’s (then) renewable capacity up to at least 11,000GW by 2030, a critical enabler of reducing global emissions by 43% by this date. This outcome envisions solar and wind representing around 90% of all new additions. Despite limited, temporary setbacks in areas as varied as material and component shortfalls and funding shortages for large-scale projects, the broader picture on scaling up renewable capacity worldwide remains bright. The latest report from IRENA puts global efforts
It breaks down into three key targets: ●
Triple the world’s combined renewable energy capacity to at least 11,000GW by 2030. Phase out fossil fuel usage in energy production from 60% to 30% of global energy production mix by 2030. Achieve net-zero emissions across the global energy sector by 2050.
●
●
What is needed to get us there? Determining whether whole nations, regions, and the broader global energy industry can decarbonise within these set timelines is too complex to predict with sufficient accuracy. Such predictions must routinely be readdressed to fit the constantly shifting realities of both the political and economic spheres.
93
THE FUTURE OF ENERGY
Made with FlippingBook - Online magazine maker