Potential barriers to tripling renewable energy capacity by 2030

Lawmakers play a crucial role in achieving this goal.

Various economies have pledged to triple global renewable energy capacity and double energy efficiency gains by 2030. However, the International Renewable Energy Agency (IRENA) has highlighted that urgent policy interventions are necessary to meet these targets.

In the World Energy Transitions Outlook, IRENA identified siloed policy making as one of the barriers hindering the shifts required in energy policy and planning. 

“Policy makers play a crucial role in supporting the shifts by adapting market structures, eliminating distorting fossil fuel subsidies and establishing effective carbon pricing mechanisms. Turning the COP28 pledge into reality and increasing renewable power capacity dramatically in these remaining 7 years to 11.2 terawatts thus calls for urgent policy interventions,” the organisation said. 

In a survey conducted in preparation for the upcoming Nationally Determined Contributions (NDC), IRENA said 41 of its 51 members also agreed on the need to improve policies and regulations to advance the energy transitions. 

They also highlighted the need to have various policy and regulatory options. Of the members, 33 mentioned carbon pricing instruments and/or Paris Agreement Article 6 market mechanisms, whilst 32 of them included electric mobility policies and regulations.

“[A]s IRENA’s analysis has demonstrated, successful policy making cannot be restricted to a single sector. The energy transition that will lead to the fulfilment of the tripling renewables pledge is one that is experienced as just and equitable across different sectors, communities, countries and regions,” the organisation said.

“This implies that policy making must be embedded in, or linked to, efforts to narrow the vast inequities between rich and poor, make economies more sustainable, and mitigate the climate crisis,” it added.