Grid, energy storage expansion needed to support 2030 RE goal: IEA

In the grid alone, 25 million kilometres should be built and modernised. 

Whilst the goal of tripling renewable energy capacity in six years is achievable, certain issues must be addressed to ensure countries can fully benefit from it, the International Energy Association (IEA) said.

Specifically, IEA said in its latest “From Taking Stock to Taking Action: How to implement the COP28 energy goals” report that countries need to build and modernise 25 million kilometres of electricity grids by 2030. At the same time, the world needs 1,500 gigawatts (GW) of energy storage capacity, of which 1,200 GW needs to come from battery storage, a 15-fold increase on today’s level.

“The goals set by nearly 200 countries at COP28 can be transformative for the global energy sector, putting it on a fast track towards a more secure, affordable and sustainable future,” said IEA Executive Director Fatih Birol. “To ensure the world doesn’t miss this huge opportunity, the focus must shift rapidly to implementation.”

IEA also said that there is a need for a more country-specific approach to double energy efficiency by 2030. This could lead to a 10% cut in global energy costs, and 6.5 billion tonnes reduction in emissions.

“Yet getting there requires that governments around the world make energy efficiency a much greater policy priority and focus relentlessly on key actions,” IEA said.     

The IEA report found that fully achieving the COP28 goals for renewables and efficiency would cut global emissions by 10 billion tonnes by 2030, giving the world a chance to meet the Paris Agreement’s temperature goals.