Renewables

IRENA’s La Camera: Renewables must grow at higher speed, scale

IRENA La Camera renewables must grow higher speed scale

Photo: iStock

Published

July 12, 2024

Country

Comments

comments icon

0

Share

Published:

July 12, 2024

Country:

Comments:

comments icon

0

Share

Renewable electricity capacity in the world grew 14% last year, according to IRENA’s updated statistical yearbook. The organization stressed that a 16.4% rate is necessary to increase the total by three times by 2030. Its Director-General Francesco La Camera warned of ongoing patterns of concentration in geography.

The International Renewable Energy Agency (IRENA) released its official statistical report for 2023 after adding production data through 2022 as well as renewable energy balances and investments. Total capacity for last year has been revised insignificantly downward from the preliminary release, by 5.2 GW to 3,865 GW. The changes are in hydropower and bioenergy. IRENA’s Director-General Francesco La Camera warned against complacency.

At the end of 2023, renewables accounted for 3.9 TW or 43% of the global total. Solar energy led within the segment with 36.7% or 1.42 TW, followed by hydropower (32.7%), wind (26.3%), bioenergy (3.9%) and traces of geothermal and marine energy.

La Camera: Current growth rate leads to failure

Despite renewables becoming the fastest-growing source of power, the world risks missing the tripling renewables target pledged at COP28. To stay the course, the renewables capacity must grow at a minimum 16.4% rate annually through 2030, according to IRENA. The goal is 11.17 TW.

Combined with the constant decreasing additions of non-renewable capacity, the trend sees renewable energy on its way to overtake fossil fuels in the global total. But maintaining the 14% rate would miss the goal by 1.5 TW or 13.5% in 2030.

IRENA La Camera Renewables must grow at higher speed scale
Photo: IRENA/LinkedIn

“Renewable energy has been increasingly outperforming fossil fuels, but it is not the time to be complacent. Renewables must grow at higher speed and scale. Our new report sheds light on the direction of travel; if we continue with the current growth rate, we will only face failure in reaching the tripling renewables target agreed in the UAE Consensus at COP28, consequently risking the goals of the Paris Agreement and 2030 Agenda for Sustainable Development.” La Camera said.

Consolidated global figures conceal ongoing patterns of concentration in geography, he pointed out. They threaten to exacerbate the decarbonization divide and pose a significant barrier to achieving the tripling target, La Camera added.

IRENA 2030 target
Photo: IRENA

China accounts for almost two thirds of global wind, photovoltaics under construction

In particular, China has 180 GW of utility-scale solar power and 159 GW of wind power already under construction, according to new data from Global Energy Monitor. The total of the two is nearly twice as much as the rest of the world combined, and enough to power all of South Korea.

The United States is next, with just 40 GW. The rest of the top five are Brazil (13 GW), the United Kingdom (10 GW) and Spain (9 GW).

IRENA called for collaboration between governments, the private sector, multilateral organizations and civil society. Governments need to set explicit renewable energy targets, look at actions like accelerating permitting and expanding grid connections, implement smart policies that push industries to step up and incentivize the private sector to invest, it stressed.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

eu smart meters acer list slovenia croatia

Slovenia tops EU list for most smart power meters, Croatia among laggards

25 July 2025 - At the top of the list of European Union member states with the highest number of smart meters are the Scandinavian countries and Italy

serbia wind farm plandiste nis met dubravka djedovic

Government of Serbia interested in taking over Plandište wind project

25 July 2025 - Plandište is one of the projects that obtained feed-in tariffs under the first quota of 500 MW for wind power plants in Serbia

Project 81 MW solar park on coal mine in Montenegro

Project underway for 81 MW solar park on coal mine in Montenegro

24 July 2025 - The Government of Montenegro gave a provisional green light for a solar power plant of 81.1 MW in peak capacity on coal land in Pljevlja

croatia rp global novalja solar ebrd loan

RP Global gets EUR 12.2 million loan for Novalja solar project

24 July 2025 - In late April, Austrian company RP Global began the construction of the Novalja PV plant at the Zaglava site on the island of Pag