The capacity of renewable energies by 2030 will fall short of what was agreed at COP28

The installed capacity of renewable energy is expected to increase by 2.6 times by 2030, falling short of the tripling target set at COP28. A report from the International Energy Agency highlights that current policies and market conditions will not allow for the necessary growth to meet this goal. The projected renewable capacity will reach approximately 9,710 gigawatts by 2030, which is below the required pace for tripling. Urgent reforms in licensing, grid integration, and financing are essential to achieve the target by 2031. The report emphasizes that overcoming regulatory hurdles is crucial for faster deployment of renewable energy.