The US has the potential to add nearly 1TW of community solar capacity if all technically viable community solar is deployed, according to the National Renewable Energy Laboratory (NREL).
118 countries have signed the ‘Global Renewables and Energy Efficiency Pledge’ on Saturday (2 December) at COP28 in Dubai to treble global installed capacity by 2030.
Renewables are set to contribute 80% of new power capacity to 2030 in the stated policies scenario (STEPS), with solar PV alone accounting for more than half of it, according to the International Energy Agency (IEA).
Portuguese utility EDP has announced its investment strategy for the coming years, establishing a €25 billion (US26.5 billion) plan to achieve 33GW of deployed renewables capacity by 2026.
Solar PV capacity is expected to almost treble over the 2022-2027 period, growing by 1.5TW and will surpass coal as the largest source of power capacity worldwide, according to a report from the IEA.
New policies in major energy markets would accelerate the investment in clean energy to US$2 trillion by 2030 in the states policies scenario (STEPS), according to a report from the International Energy Agency (IEA).
Greater standardisation of renewable energy projects will be critical to reaching net zero by 2050, according to a joint report by Princeton University and engineering company Worley.
