IEA Report Charts Path to Triple Renewables and Double Efficiency by 2030

A new report from the International Energy Agency (IEA) outlines how the world can achieve the ambitious energy targets set at last year’s COP28 climate conference in Dubai. These goals, which include tripling renewable energy capacity and doubling energy efficiency by 2030, are essential to reducing greenhouse gas emissions and accelerating the global energy sector’s transformation.

At COP28, nearly 200 countries committed to achieving net zero emissions from the energy sector by 2050, shifting away from fossil fuels and significantly expanding the use of low-emission technologies. The IEA’s report, From Taking Stock to Taking Action: How to Implement the COP28 Energy Goals, serves as the first comprehensive global analysis of the feasibility and steps needed to turn these pledges into action.

The report emphasizes that the tripling of renewables and doubling of efficiency is achievable with the right international collaboration and enabling conditions. However, these targets require countries to align their Nationally Determined Contributions (NDCs) under the Paris Agreement with the COP28 goals, using the UAE Consensus as a guiding framework.

IEA Executive Director Fatih Birol highlighted the transformative potential of the COP28 energy targets, stressing the need for immediate action to avoid missing this opportunity. Birol urged countries to prioritize building grids, expanding energy storage, and accelerating electrification to move clean energy transitions forward. He described the COP28 energy goals as the “North Star” for future climate targets.

The report finds that tripling global renewable energy capacity by 2030 is within reach, thanks to favorable economics, robust policies, and strong manufacturing potential. However, simply increasing capacity is not enough. To maximize the benefits, the report calls for the construction and modernization of 25 million kilometers of electricity grids and the installation of 1,500 gigawatts (GW) of energy storage by 2030, of which 1,200 GW should come from battery storage—a 15-fold increase over current levels.

Doubling energy efficiency by 2030 is also critical, with the report estimating it could cut global energy costs by 10%, reduce emissions by 6.5 billion tonnes, and improve energy security. Achieving this goal requires a country-specific approach, with advanced economies focusing on electrification and emerging economies enhancing efficiency standards, particularly for air conditioning. Additionally, ensuring universal access to clean cooking in developing nations would significantly lower energy demand and prevent millions of premature deaths.

If fully implemented, the COP28 goals for renewables and energy efficiency could reduce global emissions by 10 billion tonnes by 2030, providing a vital boost to meeting the Paris Agreement’s temperature targets. The report offers specific benchmarks for countries to consider as they prepare new NDCs for submission in 2025.

The release of the report coincided with the United Nations General Assembly and Climate Week NYC, where leaders from government, industry, and civil society gathered to discuss energy and climate challenges. The IEA also hosted its third High-Level Energy Transition Dialogue in partnership with the COP29 Presidency, focusing on the findings of the new report and the next steps required to accelerate global energy transitions.

In addition to the report, the IEA updated its interactive Climate Pledges Explorer, providing detailed information on the climate plans of over 190 countries. The tool tracks net zero pledges, offering insight into emissions reduction targets and their legal status, further supporting global efforts to tackle the climate crisis.

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