Recently, the International Energy Agency (IEA) released its 2024 Renewable Energy Report. This report provides predictions on the deployment of renewable energy technologies in the power, transportation, and heating sectors by 2030. It also explores key challenges faced by the industry and identifies barriers to faster growth. Click here to access the original report! At the 28th Conference of the Parties (COP28) to the United Nations Framework Convention on Climate Change held in December last year, national governments agreed to work together to triple global renewable energy installed capacity by 2030. The Renewable Energy Report 2024 provides a comprehensive analysis of countries’ progress towards this goal based on current policies and market developments, as well as an assessment of the challenges to achieving faster expansion.

China is also performing well in producing the equipment needed to generate renewable energy. It makes more than 80% of the world's solar panels and electric car batteries, according to the report, which says that China is on track to meet its target for wind and solar capacity ahead of schedule — by this year instead of 2030.