SYLLABUS
GS-3: Infrastructure: Energy, Ports, Roads, Airports, Railways etc.
Context:
- The International Energy Agency (IEA) released its Renewables 2025 report stating that global renewable power capacity is expected to expand by about 4,600 gigawatts by 2030.
- The report also cautions that the world remains off track to meet the COP28 target of tripling renewable capacity by 2030 unless countries accelerate policy reforms, grid expansion, and financing measures.
International Energy Agency (IEA)
- The International Energy Agency (IEA) is a Paris-based autonomous intergovernmental organization, established in 1974, that provides policy recommendations, analysis and data on the global energy sector.India is not a full member of IEA, as it joined the IEA as an Association country in 2017.
Key Highlights of the Report
- The report projects that global solar photovoltaic (PV) capacity will double over the next five years, contributing nearly 80 percent of the overall renewable growth.
- It notes that solar PV is poised to become the largest source of renewable electricity globally, surpassing hydropower by 2030.
- Over 80 percent of countries are expected to witness faster renewable growth between 2025 and 2030 compared to the previous five years.
- Renewables are projected to supply 43 percent of global electricity generation by 2030, up from 32 percent in 2024.
India’s Emerging Role in Renewable Growth
- The report highlights that India is set to become the world’s second-largest market for renewable energy expansion after China.
- India’s renewable capacity is expected to grow 2.5 times by 2030, supported by high auction volumes, rooftop solar initiatives, and streamlined hydropower approvals.
- Key states such as Rajasthan, Gujarat, Tamil Nadu, Maharashtra, and Karnataka are emerging as leading renewable energy hubs.
- India’s progress reflects a transition from policy ambition to practical implementation, driven by efficient auctions and rising investor confidence.
- The report cautions that timely transmission infrastructure expansion and the financial stability of distribution companies will be crucial to sustain this growth trajectory.
Global Trends in Renewable Energy field
- China remains the dominant contributor to global renewable additions, accounting for nearly 60 percent of total capacity growth.
- The United States has witnessed a downward revision in its renewable growth outlook due to the phase-out of tax incentives and regulatory challenges.
- Europe’s renewable expansion remains stable, supported by corporate power purchase agreements and widespread rooftop solar adoption.