Renewable energy sources are expected to meet nearly half of total electricity demand by 2030, according to the International Energy Agency (IEA). The world is projected to add more than 5,500 gigawatts (GW) of renewable power capacity by the end of this decade, nearly three times the growth recorded during the 2017–2023 period, according to the newly released “Renewables 2024 Report” by the IEA.

China
This increase is equivalent to the current total electricity capacity of China, the European Union, India, and the United States combined. Fatih Birol, Executive Director of the IEA, said renewable energy is expanding even faster than the targets set by some countries.
“This is not only due to efforts to reduce emissions or strengthen energy security, but increasingly because renewable energy is the cheapest option for adding new power capacity in most countries,” he said.

European Union
China will account for nearly 60% of the total renewable energy capacity installed globally between now and 2030, becoming the country that holds nearly 50% of the world’s total renewable power capacity by the end of the decade, up from one-third in 2010.
In terms of sources, solar power capacity is likely to exceed 1,100 GW by the end of this year and is expected to account for 80% of renewable energy capacity by 2030. Wind power is also on a recovery path, with expansion from now to 2030 expected to be twice as fast as during the 2017–2023 period.
Nearly 70 countries representing 80% of global renewable power capacity are expected to meet or exceed their targets by 2030. However, the global target set at the COP28 United Nations climate change conference to triple renewable energy capacity by 2030 may not be achieved.
China will account for nearly 60% of the total renewable energy capacity installed globally between now and 2030, becoming the country that holds nearly 50% of the world’s total renewable power capacity by the end of the decade, up from one-third in 2010.
In terms of sources, solar power capacity is likely to exceed 1,100 GW by the end of this year and is expected to account for 80% of renewable energy capacity by 2030. Wind power is also on a recovery path, with expansion from now to 2030 expected to be twice as fast as during the 2017–2023 period.
Nearly 70 countries representing 80% of global renewable power capacity are expected to meet or exceed their targets by 2030. However, the global target set at the COP28 United Nations climate change conference to triple renewable energy capacity by 2030 may not be achieved.

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中文 (中国)