Renewable energy supply is set to double collectively in eight major economies by 2030 due to new national climate and energy plans, World Resources Institute’s analysis states.
Assessing the Post-2020 Clean Energy Landscape analysis found that the renewable energy levels will be 18% higher in 2030 than previously projected growth rates.
World Resources Institute (WRI) analyzed plans from eight out of ten largest greenhouse gas emitters – Brazil, China, European Union, India, Indonesia, Japan, Mexico and the United States – and found that their cumulative clean energy supply will jump from approximately 9,000 TW/h in 2012 to 20,000 TW/h in 2030.
Jennifer Morgan , Global Director for Climate Program at World Resources Institute, said: “These new renewable energy targets send strong signals to energy markets and investment circles.
“Combined with the Paris climate agreement, it’s clear that renewable energy is poised to surge forward in the next 15 years bringing clean and affordable power to millions of people worldwide.”
The new national targets of the major economies announced in the past 12 months are: Brazil (45% of renewables in its energy mix by 2030), China (approximately 20% increase in the share of non-fossil fuels by 2030), EU (at least 27% share of renewables by 2030), India (approximately 40% cumulative electric power installed capacity from non-fossil fuel energy resources by 2030), Indonesia (at least 23 percent of its energy supply coming from new and renewable energy by 2025), Japan (22-24% increase of renewables in total electricity generation by 2030), Mexico (increase of clean energy resources in electricity generation mix to 35% by 2024), and United States (increase in renewables share – beyond hydropower – to 20% by 2030).
WRI also analyzed countries’ intended nationally determined contributions (INDCs) submitted to the United Nations and found that countries of all sizes intend to transform their energy mix and increase investments in clean energy.
Out of the 127 INDCs submitted by October 26, 2015, 80% of them referenced clean energy, 53% mention clean energy targets, and 27% put forward clean energy actions, WRI’s press release reads.
WRI is a global research organization that aims to move human society to live in ways that protect Earth’s environment and its capacity to provide for the needs and aspirations of current and future generations.
Image: WRI