IEA: Rewardable energy growth to hit record in 2021, still far short of net zero emissions target

news7g12/01/2021

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IEA: Rewardable energy growth to hit record in 2021, still far short of net zero emissions target

NS estimates of the energy watchdog about 290 gigawatts (GW) in total recycled energy online capacity around the world by 2021 — enough electricity to power about 200 million average U.S. homes — according to a report released Wednesday.

By 2026, the agency predicts global renewable capacity will increase by more than 60% from 2020 levels, equivalent to the current global total capacity of fossil fuels and nuclear combined. But to achieve net zero emissions by 2050, a goals many countries have set, renewable energy needs a much bigger push.

The current pace is being driven by China, which the agency says remains the global leader in renewable energy growth. The country is expected to reach 1200 GW of total wind and solar capacity by 2026, four years earlier than the target.

Renewables are also rapidly gaining traction in India, where they are predicted to double the number of new installations this year, compared with 2015-2020.

The IEA also points to rollout in Europe and the United States, both of which are expected to see a “significant” increase in renewable installation rates compared with five years ago.

China, India, Europe and the United States account for 80% or expansion of global renewable capacity, it said. But their current efforts alone will not solve the climate crisis.

Workers install solar panels on the roof of a fish processing factory in Zhejiang province, China in November.

To achieve net-zero emissions by 2050 – where the world emits only the most greenhouse gases as well as can remove them from the atmosphere – the addition of renewable electricity capacity needs to increase, the IEA says. nearly double between 2021 and 2026, the IEA said. For biofuels, annual growth needs to quadruple and renewable heat needs to triple.

Whether global leaders will be up to the task remains a question, with pledges at this month’s climate talks in Glasgow, Scotland falling short of what scientists say is necessary to avoid the worst consequences of the climate crisis. Nearly 200 countries ratified the Glasgow Climate Compact at COP26 in early November, an agreement that calls for a gradual reduction in undiluted coal and inefficient fossil fuel subsidies.

COP26 ends with the Glasgow Climate Compact. This is where it succeeded and failed

While analysts say the treaty is A step in the right direction, pledges to delay more action to reduce fossil fuel emissions to next year.

To limit global warming to 1.5 degrees Celsius – a threshold scientists say we should stay below The world needs to cut its greenhouse gas emissions rate by nearly 27 billion tons a year, according to Climate Action Tracker. But current commitments, including those already made at COP26, receive only about a quarter of the way there.

India and Iran say no to tough words on fossil fuels in the Glasgow accord. India, whose government recently pledged to reach 500 GW of renewable electricity capacity by 2030, has requested a change in the text to read “gradually” coal instead of “abandoned” gradually.

Coal is the dirtiest form of energy, and scientists say phasing out coal is key to solving the climate crisis.

In its report, the IEA said governments need to boost renewable energy by addressing key barriers to their implementation, including grid integration, lack of compensation, social issues acceptance and inconsistent policy approaches.

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