The company says the current pace is being led by China, which claims to be a world leader in renewable energy development. The country is expected to reach 1,200 gigawatts of total wind and solar capacity by 2026, four years ahead of the target date.
Renewables are being rapidly adopted in India, where the number of new installations is expected to double this year compared to 2015-2020.
The IEA also noted deployments in Europe and the United States, both of which are expected to “particularly” accelerate renewable installations over the past five years.
China, India, Europe and the United States jointly participate in 80% or more expansion of global renewable energy capacity. But their current efforts alone will not solve the climate crisis.
To reach net zero emissions by 2050 – the world only emits enough greenhouse gases from the atmosphere – renewable energy efficiency groups will need to nearly double at a pace from 2021 to 2026, the International Energy Agency said. For biofuels, annual growth must double In demand four times and the demand for renewable heat tripled.
Another question is whether world leaders are more willing to act than scientists say, as pledges are needed at this month’s climate talks in Glasgow, Scotland, to avoid the ill effects of the climate crisis. Nearly 200 countries ratified the Glasgow Climate Agreement on COP26 in early November, which called for the gradual reduction of unlimited subsidies to coal and inefficient fossil fuels.
India and Iran have said they will not include tough words on fossil fuels in the Glasgow Agreement. India, which recently pledged to achieve 500 gigawatts of renewable energy capacity by 2030, demanded that the text be changed to “gradual” in order to “reduce” coal rather than gradually “dump it”.
Coal is a dirty form of energy, and scientists say it is important to phase out coal use to tackle the climate crisis.
In its report, the IEA said governments should increase renewables by addressing key barriers, including phase integration, adequate wages, issues of social acceptance, and arbitrary policy approaches.
