Renewable energy capacity to increase by 2.5 times by 2030

Last year, 50 percent more renewable energy capacity was put into use worldwide than by 2022, and 75 percent of this increase was provided by solar energy, Azernews reports, citing the report of the International Energy Agency (IEA).

China is leading growth in global renewable energy. The growth of renewable energy capacity in Europe, the United States and Brazil has also reached record levels.

It is predicted that the growth of renewable energy, which plays an important role in the security of energy supply of countries, as well as in the fight against climate change, will gradually accelerate. By 2028, the world's renewable energy capacity is estimated to reach 7,300 gigawatts.

As this rate of growth continues, by 2030 global renewable energy potential is projected to increase by 2.5 times its current level. 95 percent of this growth is expected to come from solar and wind power.

Despite unprecedented growth in renewable energy, investment must be accelerated to meet the commitment to “triple renewable energy capacity by 2030” agreed at COP28 in Dubai last month.

A tripling of global renewable energy capacity means that this capacity will reach 11,000 gigawatts by 2030.

To achieve this goal, it is necessary to remove uncertainties related to policies, solve problems related to insufficient network investments, remove bureaucratic obstacles, and facilitate permits.