Focus on COP28 | 118 countries pledge to achieve 11TW renewable energy installed capacity by 2030

According to reports, 118 countries around the world signed the "Global Renewable Energy and Energy Efficiency Commitment" at the COP28 conference in Dubai on December 2. The conference facility aims to triple the global installed renewable energy capacity to 11TW by 2030.

This is a key theme discussed at the COP28 conference: by the end of 2030, the world's new renewable energy capacity will reach 11TW, and photovoltaic systems will play an important role in achieving this goal due to their rapid development  and continued growth.

As the International Energy Agency's recent World Energy Outlook report points out, the world's photovoltaic system capacity by 2030 may eventually account for more than half of the 11TW. The report predicts that by 2030, global photovoltaic system capacity will account for half of new renewable energy capacity, and by 2030, global photovoltaic module production capacity will reach 1.2TW.

These countries recognize that in order to achieve the Paris Agreement goals of keeping global temperature rise below 2°C and limiting it to 1.5°C, countries around the world need to accelerate the deployment of renewable energy between now and 2030. Deployment pace.

Dave Jones, global head of insights at energy think tank Ember, said the goal would take the development of renewable energy to a new level. By 2030, photovoltaic systems and wind power systems will account for 40% of global electricity generation. These measures will drive a significant reduction in fossil fuels across the global economy and ensure that demand for oil, coal and natural gas peaks eventually falls by 2030. While this statement does not replace the global agreement, it does pave the way for the historic opportunity to bring it into the final text.

In this statement, many countries recognized  need to strengthen international cooperation on renewable energy and energy efficiency, which will be achieved through cooperation on resilient value chains and technologies. Expand financial support to emerging markets to deploy renewable energy or accelerate cross-border grid interconnections.

Furthermore, some of the key drivers for the tripling of installed renewable energy capacity globally by 2030 will be accelerating the licensing process for renewable energy, developing and expanding grid connections, or clarifying market design and incentives, and strengthening markets Conditions and investment framework to promote investment in areas such as renewable energy and energy efficiency.

In response to its global commitment, the EU announced that it will invest €2.3 billion (£1.8 billion) to support the energy transition in EU member states and globally.

European Commission President Ursula von der Leyen said: “Over the next two years, we will invest €2.3 billion from the EU budget to support the energy transition in EU member states and globally. This commitment and financial support will be delivered through investment Future technologies create green jobs and sustainable growth. Of course this will reduce greenhouse gas emissions, which is at the heart of our work at COP28.”

It will also require the participation of some of the most important markets, such as China (expected to add 230GW of new renewable energy by 2023 and accelerating renewable energy growth) or India, while many emerging Asian countries have not yet signed up to this commitment , Indonesia, Vietnam, Thailand or the Philippines have not yet signed the pledge. Other countries that have not signed include South Africa, Saudi Arabia, Qatar, Russia and Egypt.

The Global Photovoltaics Council (GSC) said, “But this is only the first step in a long journey. This ambitious commitment will be achieved if supported by legally binding action and accountability. We urge world leaders not to Because the job is done when you sign the pledge, but take the next step and include a global target to triple installed renewable energy capacity in the final COP document, which we are sure countries around the world will take seriously. .”