Global Renewable Capacity Set to Double by 2030 Despite US Policy Setbacks
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📰 The quick summary: Global renewable energy capacity is set to more than double by 2030, adding power generation equivalent to all existing sources in China, Japan, and the European Union combined.
📈 One key stat: China will account for nearly 60 percent of global renewable energy growth, helping drive a worldwide capacity increase that more than doubles current levels by 2030.
💬 One key quote: “The renewables revolution is unstoppable,” said Raul Miranda, the global program director at Ember, an energy think tank focused on the clean energy transition.
1️⃣ The big picture: The International Energy Agency forecasts that global renewable energy capacity will more than double in the next five years, primarily driven by solar power expansion. While China will lead with about 60 percent of this growth, significant development is also accelerating in India, Saudi Arabia, and Pakistan. This massive increase represents power generation equivalent to all current sources in China, Japan, and the EU combined. However, projections for the United States have been dramatically reduced by almost 50 percent compared to last year, due to policy shifts under the Trump administration.
2️⃣ Why is this good news: Solar PV has become the cheapest way to meet new electricity demand in many countries worldwide, with costs continuing to decrease. The dramatic growth in renewable capacity provides enhanced energy security while supporting economic growth. Emerging markets like India are positioned to become major renewable energy centers, with India projected to be the second-largest growth market behind China. Regions previously lagging in renewables, such as the Middle East and North Africa, are seeing rapid development with a 25 percent upward revision in forecasts.
3️⃣ What’s next: Many countries will need to address logistical and technical challenges like grid integration costs as renewable deployment accelerates. Finding adequate land for renewable projects while managing environmental impacts presents another challenge to overcome. States with strong renewable mandates may help counter some of the negative federal policy shifts in the US market.
Read the full story here: Inside Climate News – Global Renewable Power Capacity Expected to More than Double by 2030
