The world added a historic 510 gigawatts of renewable power capacity in 2023, up 50% from a year before. Under current policies and market trends, global renewable capacity is set to be 2.5 times higher by 2030, not far off the COP28 goal of tripling.

Wind turbines and solar panels overtake fossil fuels to generate 30% EU power. Historic shift in power sector, and happening rapidly. EU burned 24% less coal and 14% less gas first half 2023 to first half 2024.

UK, Spain, Portugal & other countries are rapidly expanding renewables to reduce gas burning on their grids. They’re also electrifying heating. UK plans by 2030 to quadruple offshore capacity to 55 GW, triple solar and more than double land wind farms.

Spain will increase renewable generated electricity from 50% in 2023 to 81% in 2030. Spain will build 300 more renewable energy projects, totaling 28 GW. Investments will be mainly in solar but also include 43 wind farms and 1 new hydro facility.

Portugal plans to generate 93% of its electricity with renewables by 2030. Portugal generated 73% of its electricity with renewables in 2023. Portugal will cut its CO2 emissions 55% below 2005 levels by 2030 and achieve carbon neutrality by 2045.

/IEA, Bloomberg/