TRENDING
There is still much to do in the next decade to get closer to net zero by 2050 and achieve a successful energy transition : whether in the field of low carbon technologies , R & D efforts , nuclear or grid flexibility and storage .
“ In addition , beyond the necessary adoption of new market mechanisms , a shift away from measuring energy based on primary consumption is needed . This measurement was relevant during past energy crises , but it is now time to adopt a more holistic approach . Moving to a final energy demand measurement would better assess clean energy progress and ensure more accurate projections ,” added Forrest .
Despite a historical spike in renewable penetration , the pace of development isn ’ t fast enough to close the gap .
Key observations from the 2024 report include :
• There is a need to hasten the deployment of renewable energy globally , and to accelerate in developing countries , to deliver the 2030 and 2050 decarbonisation goals . The total amount of final energy provided by renewable energy is likely to be limited to about 40 % of global needs . In 2023 , total renewable energy capacity increased by 14 % year-on-year with a larger capacity expansion of solar ( 32 %) than wind ( 13 %). But , whilst 2024 is promising to hit another record , as this was the case for the 22nd previous years , this growth is far below what is needed to achieve net zero carbon in 2050 . Moreover , while the renewable penetration rate increases , they are impacting grid stability and association with stationary batteries will become compulsory . According to the report , storable renewable energy development , such as biomass or geothermal energy , should be accelerated
• Hydrogen is now a strategic lever in the decarbonisation path . The number of projects
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