Total targets set for 2030 have reached 7.4 terawatts, double the amount of energy generation in 2022: Report
A new analysis by global energy think tank Ember shows that two years after the COP28 agreement in 2023 to triple global renewable energy capacity by 2030, countries are barely making progress on those targets. Global sustainable energy production has only increased by 2% since the agreement.
The global renewable energy target for 2030 is set at 7.4 terawatts, double the amount of energy production in 2022. However, this is far short of the 11 terawatts agreed to triple the COP28 target. The gap of 3.7 terawatts is huge and means that countries are only thinking about doubling their capacity by the end of the decade.
Since COP28, 22 countries have revised their targets, the majority of them from the European Union. Only seven countries outside the European Union have updated their targets.
The national targets of the 20 largest electricity producers have not changed significantly.
The United States has no 2030 renewable energy target and is not expected to set any in the near future after the passage of the One Big Beauty Bill and the expiry of the Inflation Reduction Act.
India’s 500 GW target has not changed. Russia has no energy target for 2030 and is not expected to announce any.
China is finalizing its 15th Five-Year Plan, which is expected to include a 2030 target. South Africa is also in the process of updating its target.
