To achieve the global goal of tripling renewable power capacity by 2030, the world’s top CO2 emitters in the G20 and beyond must more than double the renewable capacity they add annually by 2030.
However, according to data released by IRENA, which monitors progress towards the UAE Consensus from the COP28 Climate Summit, progress has been slow and uneven across several economies. The 2030 target is essential for limiting the global temperature rise to below 1.5°C.
IRENA’s new dataset, presented at the Berlin Energy Transition Dialogue (BETD), includes policy recommendations and key performance indicators for the 2030 milestone. It assesses progress against 1.5°C-aligned pathways in G20 nations, including the European Union. G20 nations make up 80% of global energy consumption and contribute over 80% of global CO2 emissions.
The data also evaluates the renewable capacity gap in the G20 and an additional 15 countries in Asia and Central America. These G20+ countries must account for 80% of the total renewable power capacity needed by 2030.
IRENA’s 1.5°C scenario indicates that the installed renewable power capacity must grow from 3.4 TW to 9.4 TW in the G20, and from 3.5 TW to 9.7 TW in G20+ by 2030. These additions are essential to meet the global goal of 11.2 TW by 2030.
IRENA’s Director-General, Francesco La Camera, emphasized that the world’s largest economies are crucial to tripling global renewable energy by 2030. While renewables now account for 90% of global power capacity additions, he stressed that progress needs to be more balanced across countries, with greater ambition and action required in G20+ nations.
La Camera emphasized the need for renewable energy integration in future national climate plans, urging G20+ nations to enhance their Nationally Determined Contributions (NDCs) and speed up action by 2025 to achieve necessary CO2 emission reductions through renewables.
Out of the 13 NDCs submitted so far, only five include renewable capacity targets for 2030. IRENA’s ongoing Regional Energy Transition Outlooks aim to improve NDC target-setting. La Camera encouraged countries to create renewable energy roadmaps aligned with the 1.5°C goal and to develop clear investment plans to mobilize financing.
In 2023, G20 renewable power generation investments reached USD 547 billion, a significant milestone. However, to triple renewable power by 2030, G20+ nations must double annual investments to over USD 1,080 billion from 2024 to 2030, requiring collaboration between governments, the private sector, multilateral organizations, and regional stakeholders.
IRENA also provided recommendations for priority actions for 2025. Key targets include:
- Electrifying key sectors like mobility, heating, and cooling, which will require development of grids, digitalization, and flexibility solutions.
- Increasing renewable use in end sectors, such as sustainable biofuels in aviation and shipping, requiring targeted investments and policies.
- Doubling energy efficiency and advancing clean hydrogen technologies along with other clean energy solutions.
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