IEA says tripling renewable capacity by 2030 essential for 1.5C goal

The International Energy Agency warned that tripling global renewable power capacity by 2030 is the most impactful lever to limit warming to 1.5 degrees Celsius, ahead of COP28. The call frames the scale of clean-energy expansion India must weigh as a major energy consumer pursuing climate commitments.

The IEA warned that tripling renewable power capacity by 2030 is paramount to limiting global warming to 1.5 degrees Celsius, the most impactful lever to reduce carbon dioxide emissions by 2030. The agency estimates achieving this would save roughly 7 billion tonnes of CO2 emissions between 2023 and 2030, equivalent to eliminating all current CO2 emissions from China's power sector. The call, drawing on the IEA's Net Zero by 2050 Roadmap first introduced in May 2021, precedes the COP28 conference.

The warning affects governments, power utilities, and renewable-energy developers worldwide. Renewable power capacity additions are projected to reach an all-time high in 2023, with renewables expected to outpace coal in global electricity generation. Solar PV is projected to account for two-thirds of this year's increase, with manufacturing capacity set to more than double by 2024 across China, the United States, India, and Europe. Wind power faces challenges from permitting, auction design, supply chains, and rising commodity prices.

Governments are urged to commit to tripling global renewable capacity by 2030 ahead of COP28 and to prioritise energy efficiency, with the IEA's Global Conference on Energy Efficiency rallying 45 nations to double annual progress from around 2% to over 4% by decade's end. Oil and gas operations, accounting for roughly 15% of total energy-related emissions, must cut emissions. India, named among solar-manufacturing growth markets, should track these targets while scaling renewable deployment.

Key figure — Emissions saving: roughly 7 billion tonnes of CO2 between 2023 and 2030 from tripling renewables