Tripling global renewable energy by 2030 is feasible, says new IEA report

A new report from the International Energy Agency (IEA) sets out a roadmap for how the global share of renewables can be tripled and energy efficiency doubled by 2030 “if the right conditions are met.”

At last year’s COP28 conference in Dubai, nearly 200 countries set ambitious targets to accelerate the transition away from fossil fuels, aiming to achieve net-zero emissions by 2050. The UAE Consensus, as it is known, includes tripling global renewable energy capacity and doubling the rate of energy efficiency improvements by 2030. If these targets are met, global emissions could fall by 10 billion tonnes by the end of the decade, according to the IEA.

But achieving these goals isn’t automatic. Countries need to make key policy changes to make the transition to renewable energy a reality. A new IEA report, “From Taking Stock to Taking Action: How to implement the COP28 energy goals,” calls for an aggressive effort to build and upgrade 25 million kilometers of electricity grids by 2030. That’s enough to wrap the globe 600 times. It also highlights the need for 1,500 gigawatts (GW) of energy storage, including a 15-fold increase in battery storage.

Fatih Birol, IEA Executive Director, stressed that the focus must quickly shift to implementation. “The COP28 energy targets are the North Star for what the energy sector needs to do. We need fit-for-purpose grids, energy storage and faster electrification to ensure that the clean energy transition happens quickly and safely.”

Another key pillar of the strategy is efficiency. Doubling energy efficiency would reduce emissions by 6.5 billion tons and lower global energy costs by almost 10%. The report emphasizes that developed economies must focus on electrification, especially through electric vehicles and heat pumps. On the other hand, emerging economies must adopt stricter efficiency standards for refrigeration equipment, as well as expand access to clean cooking products. This would significantly reduce energy demand and improve quality of life in developing regions.

The IEA report serves as a roadmap for turning climate commitments into real action. Countries will now need to translate the UAE Consensus into updated Nationally Determined Contributions (NDCs) under the Paris Agreement. If governments get this right, the next decade could be a tipping point for clean energy, with renewables becoming the world’s dominant energy source.

Read more: For the first time, the International Energy Agency predicts global emissions will peak in 2025.

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