A report by "IRENA" alerts the world to the huge untapped potential of renewable energy

The International Renewable Energy Agency (IRENA) released a new report at COP27 entitled “Renewable Energy Targets in 2022: A Guide to Their Formulation” that addresses the level of renewable energy ambitions in national climate pledges and normative targets against the global climate target of 1.5°C of temperature rise. .

The report concluded that the level of collective ambition for the energy transition is not yet sufficient despite the Glasgow Climate Charter, which called on countries to update their 2030 targets in their national pledges.

Renewable energy sources are the cornerstone of the energy transition and an immediate solution to address climate change.

However, of the 183 signatories to the Paris Agreement that include renewables in their NDCs, 143 have quantified targets and most focus on the energy sector.. Only 12 countries have committed to including a certain percentage of renewable energy in their total mix of energy.

"We are at a stage that requires us to speed up implementation, so I call on world leaders to urgently bridge the gap in deploying renewable energy sources to ensure energy resilience and security and build inclusive economies," said IRENA Director-General Francesco La Camera.

He stressed that the IRENA report represents a warning to the international community that renewable energy sources offer a climate solution that can be easily resorted to, but that requires rapid implementation, and that climate pledges must rise to the ambitions of spreading renewable energy until it fully reveals its full and untapped potential.

La Camera added: “We are facing a real urgent need. Despite some progress being made, the transition in the energy sector is still far from the right track, and any failure to act on this matter in the near term will greatly weaken the chance of maintaining the goal of halting the rise in global temperatures. Heat at 1.5 degrees Celsius is within reach.

According to the IEA report, "A Outlook for Energy Transitions around the World", half of the energy that will be consumed in 2050 will come from electricity, and 90% of all decarbonization will involve renewable energy sources, whether through direct supply of low-cost energy, energy efficiency, or the adoption of renewable energy sources. Electrical systems, sustainable bioenergy, or green hydrogen.

The new IRENA report revealed that countries are targeting to reach an installed capacity of 5.4 TW of renewable energy by 2030. This represents only half of the 10.8 TW of the required installed capacity under the IRENA scenario of capping the temperature rise at 1.5°C. .

To achieve zero neutrality, the target installed capacity for renewable energy must be doubled by 2030 compared to the level of ambitions in the current targets.

According to the agency's report, this goal is easily achievable today, as the levels of renewable energy penetration achieved recently are considered very promising relative to its current goals.

To meet current targets by 2030, countries will need to add 2.4 TW of production capacity, equivalent to annual additions at an average rate of 259 GW over the next nine years. These additions are less than the actual installed capacity added during 2021 and 2022;

Despite the complications caused by the pandemic and the consequent disruptions in the supply chain, the world added about 261 gigawatts each year.

Besides, renewable energy targeted by 2030 remains concentrated in a few regions globally.

Asia accounts for half of the global target production capacity, followed by Europe and North America.

On the other hand, the MENA region represents only 3% of the global targets for the deployment of renewable energy for 2030, despite the region's high potential.

Sub-Saharan Africa accounts for just over 2% of the total 2030 global goals.

All countries targeting the highest level of renewable energy deployment belong to the G20, and together they make up nearly 90% of the global total target.

Also, the total targets of the least developed developing countries and small island developing states will double their current production capacity of renewable energy, although these countries constitute a small share of the recent penetration rate.

Follow our latest local and sports news and the latest political and economic developments via Google news