Top Posts
Death toll from Mokwa flood rises to 153
Scientists say nearly 40% of the world’s glaciers...
Nigerian government seeks alignment of NDC climate action...
German court dismisses climate case against RWE
WHO Climate Change action plan approved
Report: World likely to breach 1.5°C limit in...
At Bonn climate talks, Brazil demands early deals...
Researchers warn Africa could face 113 million climate...
LAPO MfB launches tree-planting initiative to fight climate...
Stiell says new NDCs are about growth, antidote...
EcoNai Newsroom
  • Newsround
  • Nigeria
  • Africa
  • World
World

China to lead green energy boom

by admineconai October 9, 2024
written by admineconai October 9, 2024
243

The International Energy Agency has said that China will account for almost 60% of all renewable energy capacity installed worldwide between now and 2030.

Among other things, the IEA’s highly influential renewable energy report found that over the next six years renewable energy projects will roll out at three times the pace of the previous six years, led by the clean energy programmes of China and India.

Also, the report found that the world’s renewable energy capacity is on course to outpace the 2030 goals set by governments to roughly equal the power systems in China, the EU, India and the US combined.

Fatih Birol, who is the executive director of the IEA, said: “If I could sum this [trend] up in two words they would be: China, solar.”

China will have over half of the world’s renewables by the end of the decade. The solar power surge is thought to have slowed China’s coal power pipeline, which grew by 100 GW of new power plant permits in 2022 and 2023. In the first half of 2024 China issued permits for only 12 new projects totaling 9.1 GW, according to Global Energy Monitor.

Read also: Report: Deforestation ‘roaring back’ despite 140-country vow to end destruction

The growth in solar capacity to 2030 will account for 80% of all new renewable power added globally by the end of this decade, according to the IEA. It expects the rollout to accelerate due to declining costs and policy support which will enable homes and businesses to invest in solar panels to reduce their electricity bills.

Wind power is also showing signs of recovering from the steep hike in interest rates and supply chain costs which has hampered the industry, particularly for capital-intensive offshore windfarms.

The IEA expects that the rate of global wind power growth will double between 2024 and 2030 compared with the previous six years. In the UK, the government has set a target of quadrupling Britain’s offshore wind power by 2030 while spurring the development of floating wind turbines.

Floating windfarms are expected to be a small share of the offshore wind industry by 2030 but a new report by Renewable UK, published on Wednesday, has found that by 2050, floating turbines could provide one-third of the UK’s offshore wind capacity and contribute £47bn to the economy, particularly Scottish and Welsh port communities.

Birol said: “Renewables are moving faster than national governments can set targets for. This is mainly driven not just by efforts to lower emissions or boost energy security – it’s increasingly because renewables today offer the cheapest option to add new power plants in almost all countries around the world.”

The green energy boom means renewables are on track to grow by 2.7 times by 2030, exceeding the goals set out by governments by nearly 25%, the report found. But this growth still falls narrowly short of the commitment made by world leaders to triple renewables by the end of the decade to cut the world’s reliance on fossil fuels.

Story was adapted from the Guardian.

BoomChinaGreen energy
0 comment 0 FacebookTwitterPinterestEmail
admineconai

previous post
next post
Oregon county sues major gas provider for allegedly pushing climate doubt

Related Posts

Scientists say nearly 40% of the world’s glaciers...

June 3, 2025

German court dismisses climate case against RWE

May 28, 2025

WHO Climate Change action plan approved

May 28, 2025

Report: World likely to breach 1.5°C limit in...

May 28, 2025

At Bonn climate talks, Brazil demands early deals...

May 23, 2025

Guterres raises alarm over rapid Himalayan glacier melt

May 17, 2025

Study shows two-thirds of global warming caused by...

May 8, 2025

Weather expert warns climate change to hit agriculture...

May 5, 2025

Trump dismisses authors of major climate report

April 30, 2025

New UN report shows Indigenous Peoples sidelined in...

April 25, 2025

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

Newsletter

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

  • Facebook
  • Twitter
  • Instagram
  • Linkedin
  • Bloglovin
  • Vimeo

@2021 - All Right Reserved. Designed and Developed by Eco-Nai+

EcoNai Newsroom
  • Newsround
  • Nigeria
  • Africa
  • World