The Global Renewable Outlook Fall reflects growing concern over slowing progress in clean energy expansion. The International Energy Agency (IEA) has significantly lowered its forecast for renewable capacity by 2030 highlighting challenges in major markets like the United States and China.
The International Energy Agency has reported a sharp Global Renewable Outlook Fall citing slower growth in the US and China. Total renewable capacity is now expected to reach 4600 gigawatts by 2030 below the target to triple global energy use by decade’s end.
The decline follows reduced US tax incentives and China’s shift to competitive auctions that cut profits for developers.
Despite setbacks India is on track to meet its 2030 goals and emerge as the second largest renewables market. The IEA also noted growth in the Middle East North Africa and parts of Europe.
Solar remains the driving force accounting for 80 percent of new capacity and strengthening global energy security.
