🌍 Remarkable Global #RenewableEnergy Trends Since 2000, global renewable energy capacity has grown by an impressive 415%, achieving a compound annual growth rate (CAGR) of 7.4%. 🇨🇳 China's renewable growth stands out, with a staggering 1,817% increase, far outpacing other regions. In comparison, the United States has experienced modest growth (322%). Meanwhile, 🇨🇦 Canada's growth (57%) significantly lags behind other developed nations. 🔑 A critical caveat: Energy capacity isn’t always equivalent to power generation, particularly for intermittent sources like solar and wind. The COP28 UEA Consensus highlights the urgent need to triple global renewable capacity by 2030 to align with the ambitious Paris Agreement targets. Despite remarkable progress, the path to a sustainable energy future demands even greater momentum.
The obvious observations are that the adoption of RES was good in China and Europe but very poor in Africa. Now if this is accurate what has been the impact of the IRA in the US? hardly much changed? As for Africa the countries of the continent do have a case that the rest of the world did not provide the financing it would appear or is this due to poor governance and project preparation to make these bankable. Hope we can find the answers in the publication.
#Africa stands out to me, Roberta Boscolo. Africa is home to ~39% of the world’s #renewableEnergy potential, and could reach capacity of 310 GW by 2030. This was flagged in a report by the International Renewable Energy Agency (IRENA)-- 2023. ⬇️⬇️⬇️ Africa has an almost unlimited potential of solar capacity (10 TW), abundant hydro (350 GW), wind (110 GW), and geothermal energy sources (15 GW) - according to the African Development Bank Group.
The global surge in renewable energy capacity is both inspiring and sobering. While China's extraordinary 1,817% growth leads the way, the stark gaps in progress among developed nations remind us that ambition must meet urgency. The COP28 call to triple renewable capacity by 2030 is a rallying cry to accelerate investment, innovation, and international collaboration. Let’s ensure this momentum transforms capacity into generation, turning potential into power for a sustainable future.
Thanks Roberta Boscolo for the positive note as we approach of Christmas celebrations BUT don't forget the rebound effect or Jevons paradox : as technological improvements increase the efficiency with which a resource is used, the total consumption of that resource can increase instead of decreasing. Fossil fuels, which emit GHGs that warm the climate, still represent more than 80% of primary energy. The example of AI's overconsumption of energy perfectly illustrates the Jevons paradox. #sobriety
Thank you for sharing this ! Between 2018 and 2023, global solar PV capacity tripled. This boom is changing how the world generates electricity. In fact, with solar PV complementing hydro and wind power, renewables are set to generate more electricity than coal next year China’s investment in solar has helped to bring down costs worldwide but resulted in highly concentrated manufacturing supply chains. Greater diversity will be important as the rollout of solar power accelerates
The big #energy showdown will be #China vs. #OPEC, with the U.S. a divided bystander falling behind in #renewables and other emerging clean energies.
The growth in renewable energy is inspiring, yet the challenge to triple capacity by 2030 is daunting. How do you see different sectors contributing to this goal?
It's inspiring to see such dramatic growth in renewable energy capacity, and your insights highlight the critical gaps we still need to address. Your expertise as a Climate Science and Policy Expert is invaluable in guiding us towards a sustainable energy future. Thank you for shedding light on this imperative issue.
Great chart thanks very much . A special for all the deniers mouthing off about China being the great emitter.
Energy Systems | Sustainability Advocate | Nuclear Engineer @ GE Vernova
1wInterestingly enough, China is the top leader in VREs (installed capacity) and is the country that pollutes the most. China’s Energy Portfolio (installed capacity) without fossils. -31.4 GW Offshore -404 GW Onshore -740 GW in PV -100 GW of battery storage -421.5 GW in Hydro Yet, the average capacity credit to meet demand reliably at peak times with the installed capacity is of 24% Offshore, 14% Onshore, around 9% for PV. Still they are accounted for 37% of global wind and solar output. At the same time, China is accounted for 35% of global emissions more than what is accounted to 21 advanced economies (29% of global emissions). Source: https://www3.weforum.org/docs/WEF_Fostering_Effective_Energy_Transition_2024.pdf Because VREs are not a baseload power, they rely on a 65% share on fossils, specifically coal. The only other significant source that provides them stable energy is hydro which provided 13%. And all this is not even considering the cannibalism effect a rapid increase in renewables create!! (Basic economics of supply demand). Key takeaway: VREs cannot meet demand by themselves (unless you have enough land requirements for battery storage).