Growth in renewable energy, a key part of efforts to limit dangerous climate change, is slowing down due to policy changes in the United States and China and will fall short of a key goal, the International Energy Agency said Tuesday.
Only two years ago the global community set the goal of tripling renewable energy output by 2030 to limit the rise in global temperatures, but the IEA said it will “fall short” of achieving that target.
Last year the Paris-based agency, which advises nations on energy, had forecast that the world would come close to that target with the addition of 5,500 GW of renewable power.
But the IEA now sees only a 4,600 GW gain, or 2.6 times the 2022 level, due to “policy, regulatory and market changes since October 2024”, it said in its latest report on renewable energy.
The IEA revised down its forecast for the United States by almost 50 percent due to the early phase-out by President Donald Trump’s administration of tax credits for renewables and tighter regulatory controls over projects.
Meanwhile, China’s shift from fixed tariffs for renewable energy producers to auctions has shaken up the profitability of the projects and lowered growth expectations, it said.
Nevertheless it said China still accounts for most of the growth in renewable energy and that the country is on track to attain its 2035 wind and solar power target five years ahead of schedule.
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