Green energy growth a glimmer of hope amid worsening climate crisis

How often has it been said the world is at a pivotal point in addressing the interlinked crises of climate disruption and nature loss? At this juncture, in the first half of 2024, it is the case like never before because of a multiplicity of exacerbating factors.

Record temperatures have been increasing month on month and are now the highest at any time in human history. Meanwhile natural systems have never been under so much pressure, depriving the planet of a great many nature-based solutions to global warming, and climate-related extreme weather events increase in number and severity.

Add to this a lack of urgency in applying known solutions, and geopolitical uncertainty that is not helping the collective pursuit of sustainability that is in all our interests. Arguably, delay on key political decisions is the new form of climate denial, given what science is indicating, most notably the rapid approach of climate tipping points.

In this year of elections – at home, elsewhere in Europe, in the UK and in the United States – political upheaval and short-termism risk rowback on climate policies that are needed as catalysts for decarbonisation at scale, ie ratcheting up renewables while phasing out fossil fuels.

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Worsening the prospects, mega fossil fuel companies are abandoning their emissions targets for the coming decades and even their commitments to reaching net-zero emissions, which is insidious given what is immediately facing the Earth.

It is hard to find optimism within that cauldron where polarisation and misinformation are constantly distracting and fuelling the perception that climate action is synonymous with economic pain, when benefits can be quickly realised in the form of cheaper energy, improved wellbeing (especially in cities) and less environmental pollution.

In spite of all of this, there are strong indications that the clean energy revolution is progressing well globally. The Renewable Capacity Statistics 2024 released recently by the International Renewable Energy Agency (IRENA) show that 2023 set a new record for renewables deployment in the power sector by reaching a total capacity of 3,870 gigawatts (GW).

However, this growth is unevenly distributed across the world, indicating a trend far away from meeting the critical target of tripling renewable power by 2030, while many developing countries are being cut off unfairly from the benefits of the energy transition.

The 473GW of renewables expansion was led once again by Asia, with a 69 per cent share (326GW). This growth was driven by China. Africa had some growth but it paled in comparison, with an increase of 4.6 per cent, reaching a total capacity of just 62GW.

“This extraordinary surge in renewable generation capacity shows that renewables are the only technology available to rapidly scale up the energy transition aligned with the goals of the Paris Agreement,” IRENA director general Francesco La Camera said.

Nevertheless, the data also serves as a telltale sign that progress is not moving fast enough to contain global average temperature rise to within 1.5 degrees.

La Camera added: “Policy interventions and a global course correction are urgently needed to effectively overcome structural barriers and create local value in emerging market and developing economies, many of which are still left behind in this progress.

“The patterns of concentration in both geography and technology threaten to intensify the decarbonisation divide and pose a significant risk to achieving the tripling target.”

In the EU, enhanced policy focus, increased permitting of renewables projects and heightened energy security concerns have become the main catalysts for rapid growth, apart from the increasing cost competitiveness of renewables compared to fossil fuel alternatives.

IRENA’s “1.5 degrees scenario” recommends a massive scaling up of financing and strong international collaboration to speed up the energy transition, putting developing countries as a key priority. Investments are needed in power grids, generation, flexibility and battery storage. The pathway towards tripled renewable power capacity by 2030 also requires a strengthening of institutions, policies and skills, it says.

The Republic is scaling up across all these headings, with some indications of this in the latest issue of Sustainable Ireland. But key policy gaps remain and need to be urgently addressed, such as legislation on marine protected areas that will in turn facilitate the process of designating where offshore wind projects will be located.

If such issues are addressed and complemented by targeted investment under the priority headings identified by IRENA, the State’s clean energy revolution can gather sufficient momentum to make the Government’s ambitious climate targets realisable.