In 2024, renewable capacity additions reached an unprecedented 582 GW, yet achieving the COP29 UAE Consensus target of tripling renewables to 11.2 TW by 2030 now requires a staggering 1,122 GW of new capacity every year from 2025 onward, with annual growth accelerating to 16.6% through the decade, according to the second official tracking report.
The report calls on major economies to lead the way, with G20 nations projected to deliver over 80% of global capacity and the G7 expected to raise their share to around 20% by 2030.
At COP28 world leaders agreed to triple the global renewable energy capacity by 2030. Now, it's Time 4 Action to deliver on the commitment.
With action on finance, supply chains, permits and grids, the full renewables potential can be unleashed, providing the needed 11.000 renewable gigawatts by 2030 to reroute onto the 1.5 degree pathway.
See more on the four core actions in GRA's action agenda.
Tripling renewable energy capacity by 2030 will be the defining mission of this era, and the GRA - representing the joint industry voices of the energy transition - is ready to work with governments, the private sector, financing institutions and society to reach this goal and create a just, equitable and inclusive energy transition for all.
Tripling renewable power and doubling energy efficiency by 2030: Crucial steps towards 1.5°C
Representing global perspectives within the renewable energy and climate change space, this report by the COP28 Presidency, IRENA and the Global Renewables Alliance provides recommendations on the means to triple renewable power generation capacity and double the energy efficiency improvement rate by 2030.
