Limiting climate emergency will require ten-fold solar boom, DNV GL claims

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
Image: Getty.

Global solar PV capacity must increase ten-fold to 5TW by 2030 in order to meet the Paris climate targets, research body DNV GL has claimed.

This week saw the release of DNV GL’s Energy Transition Outlook: Power Supply and Use report, which claims that the pace of the world’s transition to cleaner sources of power is happening more quickly than previously thought.

But, the report states, renewable deployment must ramp up even further if the power sector is to decarbonise to such a degree that global temperature increases are limited to well below two degrees Celsius.

If renewables were to continue to grow at their current trajectory, DNV GL anticipates that global temperatures would be 2.4 degrees Celsius warmer at the end of the current century.

Far-reaching policy decisions are therefore required to help stimulate an uptick in renewables deployment, able to deliver a 50% solar and wind share of global electricity use each year by 2030.

In addition, more than US$1.5 trillion would need to be invested in power grids by 2030 in order to facilitate the greater proliferation of renewables, while battery storage production would have to increase 50-fold worldwide to help those grids handle the extra renewable capacity.

Ditlev Engel, chief executive at DNV GL Energy, said that the firm’s research had shown that technology “has the power to close the emissions gap”, but stressed that “time is against us”.

“Those technology measures can only be successful if they are supported by extraordinary policy action. We are calling for government policies to expand and adapt power grids to accommodate the rise of renewables, economic stimulus for energy efficiency measures and regulatory reform to accelerate the electrification of transport,” Engel said.

“Governments, businesses and society as a whole need to change the prevailing mindset from ‘business-as-usual’ to ‘business-as-unusual’ to fast-track the energy transition.”

6 October 2021
The future is bright for a new era of US solar and storage, and the 8th annual Solar & Storage Finance Summit will provide opportunities to discuss solutions to the industry’s challenges and provide a networking platform designed to bring together the top minds in the industry to do business. With a mix of high-level, informative presentations and panels, a stellar cast of speakers and audience members with deal-making capacity, the 2021 edition of the event will be a sell-out success.

Read Next

September 23, 2021
A project that bids to combine up to 20GW of solar PV with the world’s largest energy storage battery and a 4,200km-long subsea power cable has moved a step forward after Indonesian authorities greenlit its proposed transmission cable route.
September 17, 2021
US utility company Dominion Energy Virginia has proposed 15 new energy projects totalling 1GW of power for the state, which Dominion Energy claimed was the largest group of projects to be submitted to the Virginia State Corporation Commission (SCC)
September 16, 2021
Energy engineering firm Babcock & Wilcox is to enter the US solar market through the acquisition of a majority stake in Illinois-based solar contractor Fosler Construction.
September 16, 2021
North American module manufacturer Silfab Solar has received an investment led by private equity firm ARC Financial Corp to help scale up its US PV production footprint.
PV Tech Premium
September 16, 2021
Spencer Jansen, head of new technology solutions at developers Hive Energy and Ethical Power, assesses how the introduction of large-format solar modules has had repercussions throughout the solar design and procurement process.
PV Tech Premium
September 15, 2021
Record-breaking power prices across Europe have turned the spotlight on the role fossil fuel plants play in generating electricity and how the transition to renewables-plus-storage could lower consumer bills.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 6, 2021
Solar Media Events
October 19, 2021
BRISTOL, UK
Solar Media Events
December 1, 2021