Tripling renewables globally by 2030 is doable, says new IEA report

A new International Energy Agency (IEA) report roadmaps how it’s feasible to triple renewables and double energy efficiency globally by 2030 “with the right enabling conditions.”

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

But hitting these targets isn’t automatic. Countries need to make key policy changes to make the renewable transition a reality. The new IEA report, “From Taking Stock to Taking Action: How to implement the COP28 energy goals,” calls for an aggressive push to build and modernize 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, executive director of the IEA, stressed that the focus must shift rapidly to implementation. “The COP28 energy goals 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 the clean energy transition happens quickly and securely.”

Efficiency is another crucial pillar of the strategy. Doubling energy efficiency would reduce emissions by 6.5 billion tonnes and cut global energy costs by nearly 10%. The report emphasizes that advanced economies must focus on electrification, especially through electric vehicles and heat pumps. Emerging economies, on the other hand, need to adopt stronger efficiency standards for cooling equipment, while also expanding access to clean cooking supplies. This would significantly lower energy demand and improve quality of life in developing regions.

The IEA’s report serves as a roadmap for turning climate pledges 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 dominant source of power globally.

Read more: For the first time ever, the IEA predicts that global emissions will peak by 2025

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