The world has huge untapped renewable energy potential, says new report

And only 12 countries have committed to respecting a percentage of renewable energies in their overall energy mix.

Renewable Energy Targets in 2022: A Guide to Design, released by the International Renewable Energy Agency (IRENA) on the occasion of the United Nations Climate Change Conference COP27, assesses the level of ambition for renewable energy in national climate commitments and compares the targets against the global climate goal of limiting temperature rise to 1,5°C. This report clearly shows that the collective level of ambition on energy transition is insufficient, despite the Glasgow Climate Pact which aims to improve the 2030 targets in national commitments.

For Francesco La Camera, Director General of IRENA: “At a time when we desperately need rapid implementation, I call on world leaders to urgently close the renewable energy deployment gap for resilience, energy security and inclusive economies. IRENA's report is a warning to the international community that while renewables offer an easily achievable climate solution, they require immediate action. Climate commitments must be more ambitious if the full untapped potential of renewables is to be unlocked. There is a real urgency. Despite some progress, the energy transition is far from on track. Any lack of action in the short term will further reduce the chances of keeping the global temperature increase target at 1,5°C. Under the COP27 slogan 'Together for implementation', we must move from promises to concrete solutions for people and communities on the ground. »

The Perspectives for global energy transitions of IRENA estimate that half of the energy consumed in 2050 will come from electricity. Ninety percent of all decarbonization will involve renewable energy, through the direct supply of low-cost electricity, improved energy efficiency, electrification, sustainable bioenergy and the green hydrogen. However, achieving the 2050 climate target depends on implementing sufficient measures by 2030.

IRENA's new analysis reveals that by 2030, countries aim to reach 5,4 TW of installed renewable capacity. This would represent only half of the 10,8 TW of installed capacity required under IRENA's 1,5°C Scenario. To achieve net zero emissions, the targeted renewable capacity by 2030 should be doubled compared to the level of ambition of the current targets.

However, this is easily achievable today, as, according to the IRENA report, current renewable energy targets are lower than recent levels of deployment. To meet current targets by 2030, countries need 2,3 TW of additional capacity, equivalent to an average annual addition of 259 gigawatts (GW) over the next nine years. This figure is lower than the actual installed capacity added in the last two years, since in 2020 and 2021, despite the difficulties linked to the pandemic and the resulting supply chain disruptions, almost 261 GW have added every year around the world.

Furthermore, the renewable energy targeted by 2030 remains concentrated in only a few regions of the world. Asia accounts for half of the targeted global capacity, followed by Europe and North America. In comparison, the Middle East and North Africa barely totals 3% of the global deployment targets for 2030, despite the region's strong potential. Sub-Saharan Africa, meanwhile, accounts for just over 2% of the global total targeted by 2030.

The countries targeting the highest level of deployment are all part of the G20, and represent nearly 90% of the aggregate global target. Although in the past they accounted for only a small share of renewable energy deployment, aggregate targets for least developed countries (LDCs) and small island developing states (SIDS) would double their current renewable energy capacity. renewable energies.

IRENA's analysis builds on the recent UN Climate publication NDC Summary Report 2022, which shows that climate plans remain insufficient to limit the global temperature increase to 1,5°C by the end of the century.