Only 14 Countries Included Explicit Targets For Renewable Power Capacity For 2030: Report It was witnessed that governments' domestic ambitions go much further, corresponding to almost 8000 GW of global installed renewable capacity by 2030.
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Very few countries have explicitly laid out 2030 targets for installed capacity in their existing Nationally Determined Contributions (NDCs) under the Paris Agreement, International Energy Agency (IEA) said in its latest report.
As many as 14 Nationally Determined Contributions out of 194, include explicit targets for total renewable power capacity for 2030.
According to the report, renewable capacity ambitions by 2030 across NDCs amount to a total of only over 1300 gigawatts (GW), just 12 per cent of the global tripling pledge, which requires installed renewable capacity of at least 11 000 GW by 2030.
However, covering around 150 countries, it was witnessed that governments' domestic ambitions go much further, corresponding to almost 8 000 GW of global installed renewable capacity by 2030.
While there is ample scope for countries to bring their NDCs in line with their current domestic ambitions, countries also need to accelerate implementation. At the same time, countries need to move their ambitions higher to align with the tripling goal.
"At COP28, nearly 200 countries pledged to triple the world's renewable power capacity this decade, which is one of the critical actions to keep alive hopes of limiting global warming to 1.5 °C. This report makes clear that the tripling target is ambitious but achievable – though only if governments quickly turn promises into plans of action," said IEA Executive Director Fatih Birol.
He added, "By delivering on the goals agreed at COP28 – including tripling renewables and doubling energy efficiency improvements by 2030 – countries worldwide have a major opportunity to accelerate progress towards a more secure, affordable and sustainable energy system."
How Does India Fare?
India aims to have 500 GW of non-fossil fuel capacity by 2030, including about 485 GW of renewables – 2.6 times the 2022 level. Current plans indicate that India leads regional renewable capacity ambitions, accounting for almost half of 2023-2030 additions.
It aims to meet the majority of its growing electricity demand with renewable energy and achieve 500 GW of non-fossil fuel capacity (including nuclear) by 2030, which translates into about 485 GW of renewables (293 GW of solar PV, 100 GW of wind, 78 GW of hydro and 15 GW of bio-energy).
The country which already had the third largest national renewable energy market in 2018-2022, is planning to further increase its installed renewable capacity by a factor of 2.6 by 2030.
However, expanding an already-large market can be a difficult task with new hurdles to overcome, such as shrinking land availability and increasingly complex system integration challenges.
To tackle these potential obstacles, India is already instituting policies to encourage the development of hybrid renewable power plants; presenting long-term plans for large auction volumes; and supporting the repowering of existing wind farms in the most suitable locations.
Speaking on the same, Viral Thakker, partner, sustainability and climate leader, Deloitte South Asia said that This progress is driven by robust public-private partnerships and interventions such as the 'Green Indian Railways' project, the development of green hydrogen capacity, and significant investments in solar and wind power.
"At COP28, India reaffirmed its commitment to achieving net-zero emissions by 2070 and reducing carbon intensity by 45 per cent, targeting 450 GW of renewable energy by 2030 from the current 130 GW. This progress is driven by robust public-private partnerships and interventions such as the 'Green Indian Railways' project, the development of green hydrogen capacity, and significant investments in solar and wind power," he said.
Further, Thakker added, "These efforts have further been bolstered by financial incentives, grid infrastructure improvements, enhanced forest cover for carbon sinks, and a raised share of non-fossil-fuel power generation capacity from 43 per cent to 50 per cent by 2030, thereby transforming India into a global leader in climate action and sustainable economic development."
