The International Renewable Energy Agency’s (IRENA) new analysis finds that collective global ambitions on renewable energy are not enough to keep temperature increases below 1.5 degrees C.
According to the report released at COP27 in Egypt, entitled "Renewable Energy Targets in 2022: A guide to design," for the world to achieve the 2050 climate target, the targeted renewable power by 2030 would have to double compared with current targets.
Existing renewable energy targets in the power sector aim at 5.4 TW of installed capacity by 2030. This would be half of the 10.8 TW of installed capacity needed according to IRENA’s 1.5 degrees C Scenario, in which half of the total energy consumed in 2050 comes from electricity, 90% of which is renewable.