A record 740 gigawatts of renewable energy capacity was added globally in 2024, but the world remains far off track to meet the COP28 goal of tripling renewables by 2030, Reuters reported on Tuesday, citing a report by the Paris-based think tank REN21.
The report warns of a 6.2 terawatt shortfall to meet the target set at the 2023 UN climate summit, exceeding all renewable capacity deployed to date. While solar photovoltaic (PV) led growth, accounting for 81 per cent of new capacity, other renewable technologies are lagging.
Solar PV remains the only renewable source on pace to meet its share of the 2030 target, driven by falling costs and rooftop installations in developing nations.
Attribution: Reuters
Subediting: M. S. Salama