By Peter Ngari
The world faces a significant challenge in meeting its 2030 renewable energy generation target. According to the latest statistics from the International Renewable Energy Agency (IRENA), a projected 7.5 trillion watts (TW) of renewable energy is expected by 2030, falling short of the targeted 11 TW by 3.7 TW, or 32.6%. To close this gap, the growth rate of renewable energy generation must accelerate by 16.4% over the next seven years.
Despite this shortfall, there is optimism as renewable energy sources are currently the fastest-growing capacity, with a marked slowdown in non-renewable sources and the decommissioning of fossil fuel plants in several countries. This trend underscores a global shift towards cleaner energy sources.
IRENA’s data also reveal regional disparities in renewable energy adoption. Africa generates 22.8% of its electricity from renewables, while the Middle East lags significantly at 3.4%. On the other hand, South America leads with 75%, followed by Europe at 40.5%. Central America, the Caribbean, and Oceania each have 38%, North America 27%, Asia 26.2%, and Eurasia 23.5%.
Renewable energy sources include hydropower, wind energy, solar energy, bioenergy, geothermal, and marine energy. Hydropower remains the dominant source of renewable electricity, with wind energy following closely. Solar energy has shown the most rapid growth in recent years.
In 2022, renewables accounted for 29.1% of global electricity generation, while the remaining 70.9% came from fossil fuels, nuclear energy, pumped storage, and other non-renewables. IRENA’s statistics emphasize that achieving the 2030 renewable energy targets will require sustained efforts and investments to drive the transition towards a more sustainable energy future.
