Achieving the global target set at COP28 to triple renewable power capacity by 2030 relies heavily on establishing conducive conditions for such growth. Tripling renewable power capacity by 2030 is technically feasible and economically viable, but its delivery requires determination, policy support and investment at-scale.
“Tracking COP28 outcomes: Tripling renewable power capacity by 2030” highlights that 2023 has set a new record in renewable deployment, adding 473 gigawatts (GW) to the global energy mix. However, the brief by the International Renewable Energy Agency (IRENA) concludes that tripling renewable power capacity depends on overcoming systemic and structural barriers to the energy transition.
Evolving policies, geopolitical shifts and declining costs have all played a role in propelling the rapid expansion of renewable energy in markets worldwide. Yet, to triple renewable power capacity, concerted efforts are required to enhance infrastructure, policies and workforce capabilities, underpinned by increased financing and closer international cooperation, as outlined in IRENA’s World Energy Transitions Outlook brief presented at the Berlin Energy Transitions Dialogue.
