The agency stated in its annual report, “Renewable Energy Sources 2024,” that “nearly 70 countries, together representing 80 percent of global renewable energy capacity, are on track to achieve or exceed their current ambitions in terms of renewable energy for the year 2030.”
The International Energy Agency indicated that global capacity to produce renewable energy “will reach 2.7 times its 2022 level by 2030.”
China is expected to account for nearly 60 percent of the world’s renewable energy by 2030, and to be home to half of the world’s renewable energy capacity, up from a third in 2010.
On the other hand, the agency noted that renewable fuels such as biofuels and hydrogen are lagging behind, which underscores the need for dedicated political support to decarbonize sectors that are difficult to operate on electricity.
The Director-General of the International Energy Agency, Fatih Birol, explained that one of the reasons for the rapid spread of renewable energies is that they today represent “the least expensive option for adding new power plants in almost every country in the world.”
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