Renewable Energy reaches 30% of Global Energy Generation

The rise of renewable energy to 30% of global electricity generation in 2023 indeed marks a significant milestone in the transition to cleaner energy sources. China, Brazil, and the Netherlands are notably leading this charge, with China making substantial contributions despite its significant coal usage.

Christiana Figueres former United Nations climate chief, called 2023 a turning point while emphasising the pivotal nature of this moment, highlighting the decreasing competitiveness of fossil fuels against the backdrop of innovations and cost reductions in renewable energy and storage technologies. The exponential growth of solar and wind power over the past two decades underscores this trend, with costs plummeting and policies and technologies maturing.

The pledge made at COP28 to triple renewable power capacity by 2030 reflects a growing commitment among global leaders to prioritise renewables as the primary means of achieving significant emissions reductions. This approach is seen as more practical and less risky than relying on unproven carbon removal technologies.

While the peaking of global fossil fuel emissions in the power sector is a positive development, there’s a recognition that emissions reductions need to accelerate to meet climate targets. This underscores the importance of continuing the momentum of the renewables revolution.

The disparity in renewable energy investment between regions, particularly African nations, highlights the need for financial reforms and increased support for clean energy projects in developing countries. Addressing this issue will be crucial in ensuring a just and equitable transition to a low-carbon future, a topic likely to be central at COP29.

(Source: Sky News)

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