According to a research by the International Energy Agency, meeting COP28 goals by tripling renewable energy generation and doubling energy efficiency by 2030 is “feasible”. The document, issued on Tuesday, states that while conditions are favorable, meeting the targets – “the North Star for what the energy sector needs to do” – will necessitate a significant push to increase storage capacity and grid links.
The research, “From Taking Stock to Taking Action: How to Implement the COP28 Energy Goals,” is the first thorough worldwide examination of what putting the aims into reality would achieve and how it could be done, according to the IEA.
Almost 200 countries agreed at the COP28 climate meeting in Dubai last year to achieve net zero emissions from the energy sector by 2050, with a pledge to triple renewable energy capacity such as wind and solar.
The IEA research argues that the renewable energy goal “is within reach thanks to favourable economics, ample manufacturing potential, and strong policies,” but notes that increased renewable capacity will not cut fossil fuel use or consumer costs.
To unlock the full benefits of the tripling goal, countries need to make a concerted push to build and modernise 25 million kilometres of electricity grids by 2030 … The world would also need 1,500 gigawatts (GW) of energy storage capacity by 2030,” the report reads