With renewables already cheaper than fossil fuels it’s not surprising that uptake in renewable energy is increasing. The benefits of renewable aren’t just a clean source of energy but also a cheap source of energy. Some countries around the world are on track to more than triple their renewable energy production and every nation can at least triple theirs with current technology. There’s no reason to build fossil fuel power generators anymore.
National targets do not account for the recent acceleration of renewables
Many government targets do not reflect the recent acceleration in renewables deployment worldwide. For example, 12 countries are set to add capacity in 2023 faster than the pace required to meet their 2030 target. In 22 countries the prospective project development pipelines for wind and solar exceed the renewable capacity needed to meet their 2030 targets. The world could achieve its current targets–a doubling of renewables–just by continuing the 500 gigawatts of estimated deployment in 2023 from 2024 to 2030, but all signs point to a more rapid growth curve.