Renewables 2024 Global Status Report, Global Overview
Policy responses to geopolitical developments and global commitments accelerated the deployment and use of renewable energy in 2023, especially in the power sector. The historic decision at the 2023 U...
Abstract
Policy responses to geopolitical developments and global commitments accelerated the deployment and use of renewable energy in 2023, especially in the power sector. The historic decision at the 2023 United Nations Climate Change Conference (COP28) to triple renewable energy capacity and double annual energy efficiency improvements by 2030 further raised ambition and built momentum for renewables. Growing leadership and appetite for renewables in developing countries is clear, but finance remains a major obstacle. Renewables are increasing in the overall energy mix, but they are not replacing coal, oil and gas at the required pace for various reasons: the overall demand for energy is rising fast, renewable energy projects are significantly more expensive in developing countries and large bottlenecks persist in permitting, infrastructure and connecting renewables to grids.
Abstract
Policy responses to geopolitical developments and global commitments accelerated the deployment and use of renewable energy in 2023, especially in the power sector. The historic decision at the 2023 United Nations Climate Change Conference (COP28) to triple renewable energy capacity and double annual energy efficiency improvements by 2030 further raised ambition and built momentum for renewables. Growing leadership and appetite for renewables in developing countries is clear, but finance remains a major obstacle. Renewables are increasing in the overall energy mix, but they are not replacing coal, oil and gas at the required pace for various reasons: the overall demand for energy is rising fast, renewable energy projects are significantly more expensive in developing countries and large bottlenecks persist in permitting, infrastructure and connecting renewables to grids.
Publication Details
Authors: Glen Wright
Year: 2024
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Keywords
launch event, moderator, presenter