The International Energy Agency (IEA) expects a massive increase in renewable energy production by 2030. According to a new report published on Wednesday, tripling the capacity – as agreed at the latest climate conference in Dubai – is within reach.

The IEA expects renewable energy sources like wind and solar to meet almost half the power demand by 2030. That is nearly three times faster than the growth over the past six years. “Renewable energy is growing faster than national governments’ targets,” IEA CEO Fatih Birol said in the report.

China

The number of solar panels in China is increasing explosively. By 2030, the country will account for more than half of the global renewable energy expansion. India, on the other hand, represents the fastest growth.

This is good news in times of gloomy climate news. A group of more than 15,000 scientists from more than 150 countries just warned that the world is heading for an irreversible climate disaster.

Success of solar panels

The European continent is also making good progress, although there are delays due to late permit grants, administration, residents’ protests, and restrictions on the electricity grid. The overcrowded power grids in many European countries also impede growth.

The IEA expects only ten European countries to achieve their renewable energy targets, including Belgium. However, if you take all renewable energy forms into account, Europe is doing fine. This is mainly due to the success of solar panels, for which Europe is still on schedule.

Sustainable fuels

However, financing costs for energy projects are high, and support is needed in developing countries. Moreover, in addition to investments in production, the network and storage capacity also need investments to prevent energy produced from being lost.

In addition, the agency states that sustainable biofuels, biogas, hydrogen, and synthetic fuels must be introduced to achieve international climate goals. However, because these fuels are still more expensive than fossil fuels, their share of the global energy supply is expected to remain below 6 percent even by 2030.

Wind energy

Regarding wind energy production, Europe remains 30% below the target in the climate plans of the European Member States. By 2030, there will be 22% fewer onshore wind turbines than hoped, and offshore wind will perform even worse.

According to the IEA, long lead times, delays, and problems in the production chain mean that only 6 GW is installed yearly, while 13 GW is needed.