Targeted RE capacity needs to be doubled by 2030 to reach climate goals

Total capacity needs to reach 10.8TW from the current target of 5.4TW.

The global renewable energy capacity target needs to be doubled to reach 10.8 terawatts (TW) by 2030 to reach the climate goal of keeping the temperature rise to 1.5 degrees Celsius.

In a report, the International Renewable Energy Agency (IRENA) said the targeted capacity by 2030 is currently at 5.4TW.

“There is a need for real urgency. Despite some progress, the energy transition is far from being on track,” said IRENA Director-General Francesco La Camera. “Any near-term shortfall in action will further reduce the chance of keeping 1.5°C within reach.”

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The total installed capacity in 2021 reached 3.1TW. To reach the current 2030 target, countries would need to add 2.3TW of capacity or an additional 259 gigawatts on average annually in the next nine years.

“This is below the actual installed capacity added in the past two years: in 2020 and 2021, despite the complications that resulted from the pandemic and consequent supply chain disruptions, the world added almost 261 GW each year,” IRENA said.

It added that the current 2030 targeted capacity was concentrated in a few regions with Asia accounting for half of the total, followed by Europe and North America. 

The Middle East and North Africa comprised only 3% of the global target by 2030 despite their high potential, whilst Sub-Saharan Africa accounted for over 2%.