Wind, solar need to grow three times faster than current yearly rates to limit warming to 1.5°C A report from Climate Analytics and New Climate Institute stresses the urgent need for expanding wind and solar power in key nations to limit warming to 1.5°C. India must more than triple its capacity by 2030, needing international climate finance support for this transition, while also moving away from coal dependence.
BATHINDA: A new analysis by Climate Analytics and NewClimate Institute that delves into wind and solar-two game-changing technologies in the climate fight-reveals the pace at which both need to scale in key countries to limit warming to 1.5°C. Across 11 countries that account for over 70% of current wind and solar power, the technologies need to grow fivefold by 2030 (three times faster than current yearly rates) and eightfold by 2035 to meet global climate goals.
Climate Analytics is a global science and policy institute while NewClimate Institute is a think tank supporting implementation of action against climate change in the context of sustainable development around the world.
According to the report, India is set to more than triple wind and solar capacity by 2030 compared to 2022 but would need further international climate finance support to scale five-fold to over 600 GW to meet growing demand and move away from coal dependence in line with 1.5°C.
With electricity demand growing rapidly in India, wind and solar will need to continue accelerating to meet demand growth while phasing down coal power.
It finds India’s wind and solar generation needs to grow five times by 2030 to align with 1.5ºC, reaching around 1100 TWh of wind and solar.
Just over 600 GW of wind and solar power (460 GW of solar and 150 GW of wind) would need to be installed by 2030. At 2022 levels it was 126 GW.
At the current pace of rollout, India is projected to reach around 400 GW of wind and solar by 2030. This falls short of the capacity needed in 2030 by 140 GW of solar and 70 GW of wind.
As countries prepare new 2035 targets for their updated NDCs, India has the opportunity to show climate leadership by including a 1.5-aligned target of 990 GW of solar and 210 GW of wind capacity installed by 2035, full achievement of which would require international climate finance support.
Long-term planning and scaled up international climate finance will be vital to supporting India in rapidly move away from coal dependence.
To accelerate the growth of wind and solar in line with the Paris agreement, it is also crucial to roll out sufficient storage solutions to support the flexibility of wind and solar power, ensuring the rising energy demand during non-solar hours is met.
The report aims to guide governments as they present new climate targets following a COP28 commitment to triple renewables in line with 1.5°C by 2030. Across the 11 countries, wind has a key near-term role, providing more electricity than solar until the mid-2030s in a 1.5ºC aligned transition. By 2050, solar becomes dominant, providing around half of total electricity generation, and wind around a third.
“Wind and solar are the bread and butter of the energy transition and represent the most powerful tools in our toolbox. As countries update their climate targets, sending a strong, clear message on the central role of wind and solar could be the defining policy action in getting the world on track for 1.5°C,” says Climate Analytics CEO Bill Hare.
Enhanced international cooperation, including the provision of grants and concessional finance help to mobilise private capital, is urgently needed to ensure emerging and developing countries benefit equally from the renewable rollout.
There is no single way to translate global goals to the national level. A country’s wind and solar rollout depends on a range of factors, including forecast electricity demand, the pace of fossil phase-out needed, the availability of other renewable technologies like hydropower and geothermal, and the split between wind and solar. This new analysis represents one evidence point to guide countries as they prepare new 1.5°C-aligned climate targets.
“Industry stands ready to deliver the rapid roll out of wind and solar necessary to meet our climate goals. Businesses are calling on governments to set ambitions, specific and actionable targets in their NDCs and energy plans – this creates the market certainty needed to unlock investment and ensure a robust pipeline of renewable projects. That’s why today we are publishing an open letter, calling on leaders to Now Deliver Change in their upcoming NDCs,” says Louise Burrows, Head of Government Affairs, Global Renewables Alliance.
Source : The Economic Times
