New Irena energy transition report
Some scenarios defined at 2030 and 2050 by the new Irena report (International Renewable Energy Agency).
A huge effort lies ahead of us to keep alive the climate goal of limiting global warming to +1.5 °C by the end of the century. There will be 10,000 GW of total installed capacity in renewables by 2030 and a total of $35 trillion to be invested in the various technologies of the green transition.
With current policies, the report points out, in the power generation sector alone, renewables would reach 5.4 TW of cumulative capacity in 2030, roughly half of what would be needed on a path compatible with the 1.5 °C target.
So renewables are running, but not fast enough.
From the 295 GW developed in 2022, it would be necessary to reach an average of almost 1000 GW/year by 2030. In particular, an average of 551 GW of photovoltaics and 329 GW of wind power would have to be installed each year between now and 2030, compared to 191 GW and 75 GW developed in 2022, respectively.
Annual investments in new renewable electricity generation are expected to almost triple.
Renewables are expected to reach 67% of total electricity generation in 2030, up from 28% today.