In 12 months the renewables market has moved but governments have not

National renewable energy targets for 2030 currently aim for a collective doubling of capacity rather than the tripling agreed upon at COP28, despite market forecasts suggesting such a goal is achievable, particularly for solar and battery storage.

• National renewable energy targets for 2030 have remained largely stagnant since COP28, increasing by only 4 GW in the last 12 months to a total of 7,242 GW. This represents a doubling of 2022 capacity (3,379 GW), leaving a gap of 3,758 GW to reach the global tripling goal of at least 11,000 GW.
• Solar energy deployment is significantly outpacing national targets. While the sum of 2030 national solar targets is 3,011 GW, market forecasts project capacity could reach 6,640 GW by 2030. In 31 of 55 analysed countries, projected solar additions already exceed their current 2030 targets.
• Wind energy targets and market forecasts are aligned but both fall short of the tripling goal. National targets project 2,157 GW by 2030, leaving a 585 GW gap to reach the required 2,742 GW. China is expected to install over 50% of global wind additions between 2024 and 2030, while the rest of the world is projected to less than double its capacity.
• Energy storage targets are severely underdeveloped. Only 30 of 96 assessed countries have national storage targets, totalling 284 GW. This is significantly lower than the 1,500 GW target called for by the G7 and COP presidency, and also falls short of the BNEF market forecast of 776 GW for battery storage alone.
• Regional analysis shows that all regions are falling short of the ambition needed for a global tripling. The Middle East and North Africa (MENA), Sub-Saharan Africa, and Eurasia have the largest relative shortfalls. Asia and the OECD have the largest absolute gaps, together responsible for 80% of the required capacity additions this decade.

APA

Altieri, K., Zaimoglu, O., Jones, D., Alparslan, U., Black, R., Brown, S., Harrison, T., Hawkins, S., Bruce-Lockhart, C., Lolla, A., Mishra, R., Nadhila, S., Shah, R., Thiru, J. Z., & Rahmani, A. A. (2024). In 12 months the renewables market has moved but governments have not. Ember. https://ember-energy.org/latest-insights/renewables-market-have-moved-but-governments-have-not

Chicago

Altieri, Katye, Oya Zaimoglu, Dave Jones, Ufuk Alparslan, Richard Black, Sarah Brown, Tom Harrison, et al. In 12 months the renewables market has moved but governments have not. Ember, 2024. https://ember-energy.org/latest-insights/renewables-market-have-moved-but-governments-have-not.

Wikipedia

{{cite report |last1=Altieri |first1=Katye |last2=Zaimoglu |first2=Oya |last3=Jones |first3=Dave |last4=Alparslan |first4=Ufuk |last5=Black |first5=Richard |last6=Brown |first6=Sarah |last7=Harrison |first7=Tom |last8=Hawkins |first8=Sam |last9=Bruce-Lockhart |first9=Chelsea |display-authors=etal |title=In 12 months the renewables market has moved but governments have not |publisher=Ember |date=12 November 2024 |url=https://ember-energy.org/latest-insights/renewables-market-have-moved-but-governments-have-not |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{altieri2024months, author = {Altieri, Katye and Zaimoglu, Oya and Jones, Dave and Alparslan, Ufuk and Black, Richard and Brown, Sarah and Harrison, Tom and Hawkins, Sam and Bruce-Lockhart, Chelsea and Lolla, Aditya and Mishra, Rashmi and Nadhila, Shabrina and Shah, Ruchita and Thiru, Jivan Zhen and Rahmani, Ardhi Arsala}, title = {{In 12 months the renewables market has moved but governments have not}}, institution = {Ember}, year = {2024}, month = nov, url = {https://ember-energy.org/latest-insights/renewables-market-have-moved-but-governments-have-not}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }