REN21：可再生能源2024年全球現狀概況報告（英文版）（51頁）.pdf

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1、RENEWABLES 2024 GLOBAL STATUS REPORT2024GLOBAL OVERVIEWModule OverviewPolicy and TargetsInvestment and FinanceChallenges and Opportunities2RENEWABLES 2024 GLOBAL STATUS REPORT GLOBAL OVERVIEWSCIENCE AND ACADEMIAAEE Institute for Sustainable Technologies(AEE-INTEC)Council on Energy,Environment and Wa

2、ter(CEEW)Fundacin Bariloche(FB)International Institute for Applied Systems Analysis(IIASA)International Solar Energy Society(ISES)National Renewable Energy Laboratory(NREL)National Research University Higher School of Economics Russia(HSE)South African National Energy Development Institute(SANEDI)Th

3、e Energy and Resources Institute(TERI)University of Technology Institute for Sustainable Futures(UTS)World Resources Institute(WRI)GOVERNMENTSAustraliaAustriaBrazilDenmarkDominican RepublicGeorgiaGermanyIndiaRepublic of KoreaMexicoMoroccoNorwayPanamaRo Negro Province,ArgentinaSouth AfricaSouth Austr

4、alia State,AustraliaSpainUnited Arab EmiratesUnited StatesZimbabweMEMBERS AT LARGEMichael EckhartRabia FerroukhiDavid HalesKirsty HamiltonPeter RaeINDUSTRY ASSOCIATIONSAfrica Minigrid Developers Association(AMDA)Alliance for Rural Electrification(ARE)American Council on Renewable Energy(ACORE)Asia P

5、acific Urban Energy Association(APUEA)Associao Lusfona de Energias Renovveis(ALER)Chinese Renewable Energy Industries Association(CREIA)Clean Energy Council(CEC)Euroheat&Power(EHP)European Heat Pump Association(EHPA)European Renewable Energies Federation(EREF)Global Off-Grid Lighting Association(GOG

6、LA)Global Solar Council(GSC)Global Wind Energy Council(GWEC)Indian Renewable Energy Federation(IREF)International Geothermal Association(IGA)International Hydropower Association(IHA)International Union of Railways/Union Internationale des Chemins de Fer(UIC)Long Duration Energy Storage Council(LDES)

7、Portuguese Association of Renewable Energy(APREN)RE100/Climate Group(RE100)RES4Africa Foundation(RES4Africa)Solar Power Europe(SPE)Union Internationale des Transports Publics(UITP)World Bioenergy Association(WBA)World Wind Energy Association(WWEA)INTER-GOVERNMENTAL ORGANISATIONSAsia Pacific Energy R

8、esearch Center(APERC)Asian Development Bank(ADB)ECOWAS Centre for Renewable Energy and Energy Efficiency(ECREEE)Electric Power Council of the Commonwealth of Independent States(Executive Committee)(EPC)European Commission(EC)Global Environment Facility(GEF)International Energy Agency(IEA)Internation

9、al Renewable Energy Agency(IRENA)Islamic Development Bank(IsDB)Latin American Energy Organization(OLADE)Regional Center for Renewable Energy and Energy Efficiency(RCREEE)United Nations Development Programme(UNDP)United Nations Environment Programme(UNEP)United Nations Industrial Development Organiza

10、tion(UNIDO)World Bank(WB)NON-GOVERNMENTAL ORGANISATIONS350.orgAfrican Association for Rural Electrification(Club-ER)Asociacin IvyCDPClean Cooking Alliance(CCA)Climate Action Network International(CAN-I)Coalition de Ciudades Capitales de las Americas(CC35)Collaborative Labeling and Appliance Standard

11、s Program(CLASP)Energy CitiesEuropean Youth Energy Network(EYEN)Fundacin Renovables(FER)Global Forum on Sustainable Energy(GFSE)Global Womens Network for the Energy Transition(GWNET)Greenpeace International ICLEI Local Governments for SustainabilityInstitute for Sustainable Energy Policies(ISEP)Inte

12、rnational Electrotechnical Commission(IEC)International Institute for Sustainable Development(IISD)Jeune Volontaires pour lEnvironnement(JVE)Mali Folkecenter(MFC)Power for AllPower Shift AfricaRenewable Energy and Energy Efficiency Partnership(REEEP)Renewable Energy Institute(REI)Renewables Grid Ini

13、tiative(RGI)SLOCAT Partnership on Sustainable,Low Carbon Transport(SLOCAT)Solar Cookers International(SCI)Solutions for Our Climate(SFOC)Sustainable Energy Africa(SEA)Sustainable Energy for All(SEforALL)The Global 100%Renewable Energy Platform(Global 100%RE)Women Engage for a Common Future(WECF)Worl

14、d Council for Renewable Energy(WCRE)World Future Council(WFC)World Wide Fund for Nature(WWF)EXECUTIVE DIRECTORRana AdibPRESIDENTArthouros ZervosREN21 MEMBERSModule OverviewPolicy and TargetsInvestment and FinanceChallenges and Opportunities3RENEWABLES 2024 GLOBAL STATUS REPORT GLOBAL OVERVIEWFOREWOR

15、DWe stand at a precipice,with the urgent need for a rapid transition to renewable energy underscored by escalating global crises and the encouraging targets set at COP28.The role of renewable energy as a key solution to climate,energy,and economic challenges is more apparent than ever.This years Ren

16、ewables Global Status Report illuminates a complex landscape of progress tempered by persistent challenges.Despite record investments in renewables,reaching USD 622.5 billion in 2023,we are still far from what is needed to meet our climate and sustainable development goals.Estimates suggest that glo

17、bal investments need to reach at least USD 1.3 trillion annually between now and 2030 if we are to keep the 1.5C target in reach.The disparity in investment opportunities between high-and low-income countries,compounded by unequal access to capital,remains a major obstacle to an equitable energy tra

18、nsition.Interest rates in emerging economies remain significantly higher than in advanced economies,further hindering progress towards sustainability.We find hope in the commitments made at COP28 to triple renewable capacity and double energy efficiency by 2030.These pledges,however,risk becoming em

19、pty promises unless they are backed up with immediate,drastic action.As we celebrate our achievements,we remain acutely aware that radical action is necessary to keep pace with ever-growing energy demand and significantly reduce greenhouse gas emissions.In 2023,renewable energy accounted for 86%of p

20、ower capacity additions,a testament to progress.Yet renewables represented just 12.9%of total final energy consumption in 2022.The shift towards renewable energy is not just a necessity but an opportunity to create a more sustainable,equitable,and prosperous future.To seize this opportunity,we must

21、strengthen policies,increase investments,and foster technology and skill sharing at a global scale.I extend my deepest thanks to the REN21 team and all contributors for their unwavering dedication and insight.As REN21 celebrates its 20 years.I want to particularly acknowledge the REN21 communitys on

22、going engagement in helping craft this comprehensive report.The GSR 2024 once again exemplifies our collective commitment to accelerating the renewable energy transition.We must act fast.We must act together.Let us respond to the momentous challenges and opportunities that confront us with renewed d

23、etermination and confidence that we can,and must,transition to renewables,now.Rana Adib Executive Director,REN21Module OverviewPolicy and TargetsInvestment and FinanceChallenges and Opportunities4RENEWABLES 2024 GLOBAL STATUS REPORT GLOBAL OVERVIEWRENEWABLE ENERGY POLICY NETWORK FOR THE 21st CENTURY

24、REN21 is unique.It is the only global,multi-stakeholder network dedicated to renewables.We create an enabling environment to support renewable uptake.Together,we build knowledge,shape dialogue and debate,and communicate this information to strategically drive the deep transformations needed to make

25、renewables the norm.Shifting to renewables is more than a fuel switch;it requires engaging with market players and society at large.REN21 works in close cooperation with its community,providing a platform for all stakeholders to engage and collaborate.Through these collective efforts,REN21 builds br

26、idges and amplifies positive and sustainable energy solutions.Our goal:enable decision-makers to make the shift to renewable energy happen now.Module OverviewPolicy and TargetsInvestment and FinanceChallenges and Opportunities5RENEWABLES 2024 GLOBAL STATUS REPORT GLOBAL OVERVIEWCROWD-SOURCED DATAAND

27、 KNOWLEDGE20 YEARS OF REN21 This year marks two decades since the inception of REN21 an opportunity to celebrate 20 years of instrumental contributions to the advancement,shaping and understanding of renewable energy worldwide.Established in 2004,REN21 emerged from the collective vision of global pi

28、oneers who convened to call for accelerated commitments towards renewable energy adoption.For two decades,REN21 has been pivotal in elevating renewables to the forefront of global agendas for leaders and decision makers across all stakeholder groups,enabling knowledge exchange,dialogue and debate ab

29、out the global transition to renewables.The 20th-anniversary celebration of REN21 is also the occasion to acknowledge REN21s flagship knowledge product,the Renewables Global Status Report.Since the GSRs first release in 2005,REN21 has published 18 editions of the report,crafted annually with the mos

30、t up-to-date insights,facts and stories from thousands of contributors spanning diverse regions and sectors.The GSR has been central to fulfilling REN21s mission,becoming a reference for many and positioning REN21 as the global trusted voice on renewables.20 YEARS OF CROWD-SOURCED,CROWD-OWNED KNOWLE

31、DGE AND DATAREN21s data and knowledge collection method is unique,drawing upon the organisations global multi-stakeholder community of experts.Contributors from across the globe are invited to submit data,insights and stories on annual developments in renewable energy technologies,market trends,poli

32、cies and local perspectives,resulting in a comprehensive and diverse dataset.REN21 performs rigorous data validation and fact-checking throughout the reports development,ensuring accuracy and reliability.Validation of the data is a collaborative and transparent process conducted through open peer re

33、views.Collectively,hundreds of experts contribute to making the GSR one of the most authoritative and comprehensive publications in the field of renewables.Alongside its wealth of key facts and figures,the GSR is openly accessible,fostering a shared language that shapes the sectoral,regional and glo

34、bal debate on the energy transition.Module OverviewPolicy and TargetsInvestment and FinanceChallenges and Opportunities6RENEWABLES 2024 GLOBAL STATUS REPORT GLOBAL OVERVIEWThis report was commissioned by REN21 and produced in collaboration with a global network of research partners.Financing was pro

35、vided by the German Federal Ministry for Economic Cooperation and Development(BMZ)and the German Federal Ministry for Economic Affairs and Climate Action(BMWK).A large share of the research for this report was conducted on a voluntary basis.RENEWABLES GLOBAL STATUS REPORT 2024 COLLECTIONSince 2005,R

36、EN21s Renewables Global Status Report(GSR)has spotlighted ongoing developments and emerging trends that shape the future of renewables.It is a collaborative effort involving hundreds of experts.Structured as a collection of five publications,this years 19th edition of the GSR reflects key trends in

37、global energy.In addition to providing a global overview of the renewables landscape,the GSR also presents developments in renewable energy supply and dives into energy demand sectors,with dedicated modules on buildings,industry,transport and agriculture.The collection further includes a publication

38、 on renewable energy systems and infrastructure as well as a publication on renewables for economic and social value creation,acknowledging the key benefits of renewables for economies and societies.Collectively,these five publications offer readers a systemic global overview of the current uptake o

39、f renewables.RENEWABLES 2024 GLOBAL STATUS REPORT2024GLOBAL OVERVIEWRENEWABLES 2024 GLOBAL STATUS REPORT2024ENERGY SUPPLYRENEWABLES 2024 GLOBAL STATUS REPORT2024ENERGY DEMANDRENEWABLES 2024 GLOBAL STATUS REPORT2024ECONOMIC&SOCIAL VALUECREATIONRENEWABLES 2024 GLOBAL STATUS REPORT2024ENERGY SYSTEMS&IN

40、FRASTRUCTUREModule OverviewPolicy and TargetsInvestment and FinanceChallenges and Opportunities7RENEWABLES 2024 GLOBAL STATUS REPORT GLOBAL OVERVIEWACKNOWLEDGEMENTSREN21 DATA AND KNOWLEDGE TEAMJad Baba Ana Daz Vidal Erin Hampton Janne Luise Piper Andrea Wainer Glen Wright Hend Yaqoob SPECIAL ADVISOR

41、SJanet L.Sawin Freyr Sverrisson CHAPTER AUTHORSHind Couzin Kristin Seyboth LEAD TOPICAL CONTRIBUTORS Akram Almohamadi(RCREEE)Yasmine Arsalane(IEA)Gonzalo Bravo(Fundacin Bariloche)Zuzana Dobrotkova(Independent Consultant)Peter du Pont(Asia Clean Energy Partners)Charlotte Gardes-Landolfini (Internatio

42、nal Monetary Fund IMF)Ruud Kempener(European Commission)Maged Mahmoud(RCREEE)Joel Nana(SEA)Sven Teske(Institute for Sustainable Futures)OTHER CONTRIBUTORSMohammed Abdalghafoor(Sustainable Development Solutions Network);Hassan Aboughalma(Georenco);Mohammad Awwal Adeshina(Daegu Gyeongbuk Institute of

43、Science and Technology);Damilola Adeyanju(World Energy Council and Climate Group);Nana Serwaa Antwi(Politecnico di Milano);Patrick Atouda Beyala(SOAS University of London);Alan Bravo(SPGlobal);Roman Buss(World Energy Council);Bernardo Carrillo(Stemy Energy);Mahmoud Abou Elenen(GE Vernova);Sam Hawkin

44、s(Ember);Gabriela Hernndez-Luna(CIICAp-UAEM);Soe Htike Aung;nund Killingtveit(Norwegian University of Science and Technology);Peter Konings(APEG);Felix Kriedemann(REScoop.eu);Leopoldo Mic(Solar Heat Europe);Golnoosh Mir Moghtadaei(Enertime);Ekta Mishra(Patil Institute of Technology);Mweetwa Mundia S

45、ikamikami(TRiM BITPoP Engineering);Abubakar Musa Magaga(Nigerian Institute of Transport Technology);Michelle Marie Nolan Aguirre(Africa EU Energy Partnership);Jesse Nyokabi(Quaise Energy Africa);Pallav Purohit(IIASA);Swasti Raizada(IISD);Nizomiddin Rakhmanov;Madan B.Regmi(United Nations);Oliver Reyn

46、olds(GOGLA);Rosenberg J.Romero(CIICAp-UAEM);Abdelaziz Salah Saidi(King Khalid University,KSA);Jin Tanaka(UNISC International);Eman Tora(ECADO Innovation);Loveth Ugwu Ovedje(MELAW,Dalhousie University);Patricia Villarroel Sez(Perito Corte de Apelaciones);Marcela Vincoletto Rezende(Gerdau)RESEARCH AND

47、 PROJECT SUPPORT Nicolas Achury Talia Contreras-TapiaEDITING,DESIGN AND LAYOUTLisa Mastny(Editor)weeks.de Werbeagentur GmbH(Design)PRODUCTION AND COMMUNICATIONREN21 Secretariat,Paris,FranceModule OverviewPolicy and TargetsInvestment and FinanceChallenges and Opportunities8RENEWABLES 2024 GLOBAL STAT

48、US REPORT GLOBAL OVERVIEWGLOBAL OVERVIEWModule Overview.10Policy and Targets.21Investment and Finance.28Challenges and Opportunities.39 TABLE OF CONTENTSFor further details and access to the report,references and endnotes,visit and questions are welcome and can be sent to .REPORT CITATION REN21.2024

49、.Renewables 2024 Global Status Report Collection,Global Overview (Paris:REN21 Secretariat).ISBN 978-3-948393-13-7REN21 Members.02Foreword.03REN21 Knowledge and Data.04Acknowledgements.07Photo Credits and Impressum.50Module OverviewPolicy and TargetsInvestment and FinanceChallenges and Opportunities9

50、RENEWABLES 2024 GLOBAL STATUS REPORT GLOBAL OVERVIEWFIGURESFigure 1.Total Final Energy Consumption by Source,2012 and 2022.16Figure 2.Renewable Share of Total Final Energy Consumption,by Country,2021.17Figure 3.Renewable Energy Targets,by Country and by Sector,as of 2023.25Figure 4.National Net Zero

51、 Policies and Status of Implementation and Renewable Energy Targets,as of 2023.26Figure 5.Countries with Climate Change Policies,by Type of Measure,as of 2023.27Figure 6.Weighted Average Cost of Capital for Onshore Wind Power and Solar PV,by Country.29Figure 7.Share of Development Finance from Offic

52、ial and Private Donors for Renewable and Non-Renewable Energy Generation Projects,2013-2022.30Figure 8.Development Finance for Renewable Energy Generation by Donor and Recipient Region,2022.31Figure 9.Development Finance for Renewable Energy Generation by Channel,2013,2017 and 2022.32Figure 10.Susta

53、inable Finance Taxonomies in Countries Worldwide,in Place and Under Development,2023.33 Figure 11.Estimated Share of Mitigation Finance by Sector,2019-2022.37Figure 12.Range of Annual Renewable Energy Investment Needed in Climate Change Mitigation Scenarios,Compared to Recent Investments.38R Energy

54、Units and Conversion Factors R Data Collection and Validation R Methodological Notes R Glossary R List of Abbreviations Reference Tables can be accessed through the GSR 2024 Global Overview Data Pack at R http:/ TO MICROSITESIDEBARSSidebar 1.Tackling the Bottleneck of Renewable Energy Connection Que

55、ues.19Sidebar 2.Development Finance for Renewable Energy.30SNAPSHOTSUnited States:The Inflation Reduction Acts One-Year Impact on US Clean Energy Progress.13China and India:Why China and India Have Hesitated to Sign the Global Pledge to Triple Renewables.15South Africa:How Transformative Policy Is S

56、hifting South Africas Renewable Energy Landscape from Crisis to Opportunity.24DISCLAIMER:REN21 releases issue papers and reports to emphasise the importance of renewable energy and to generate discussion on issues central to the promotion of renewable energy.While REN21 papers and reports have benef

57、ited from the considerations and input from the REN21 community,they do not necessarily represent a consensus among network participants on any given point.Although the information given in this report is the best available to the authors at the time,REN21 and its participants cannot be held liable

58、for its accuracy and correctness.The designations employed and the presentation of material in the maps in this report do not imply the expression of any opinion whatsoever concerning the legal status of any region,country,territory,city or area or of its authorities,and is without prejudice to the

59、status of or sovereignty over any territory,to the delimitation of international frontiers or boundaries and to the name of any territory,city or area.GLOBAL STATUS REPORT 2024 COLLECTION GLOBAL OVERVIEWBOXESBox 1.Divestment from Fossil Fuels.35Box 2.Oil and Gas Companies Investment in Renewables.36

60、Policy and TargetsInvestment and FinanceChallenges and Opportunities10RENEWABLES 2024 GLOBAL STATUS REPORT GLOBAL OVERVIEWModule OverviewMODULE OVERVIEW In 2023,global additions to renewable power capacity increased an estimated 36%to reach 473GW,a new record for the 22nd consecutive year.At the 202

61、3 United Nations Climate Change Conference in Dubai,130 countries pledged to triple renewable energy capacity and double the annual rate of energy efficiency improvements by 2030.As countries reshaped trade and industrial policies in 2023,the United States launched more than 250 clean energy manufac

62、turing projects following the adoption of the Inflation Reduction Act,and the European Union proposed the Net-Zero Industry Act and launched the first phase of the Carbon Border Adjustment Mechanism.Employment in the renewables sector increased 8%in 2022 to reach 13.7 million jobs.The number of peop

63、le lacking electricity access globally fell from 756 million in 2022 to 745 million in 2023.This overview sets the scene for the various modules in the Renewables 2024 Global Status Report Collection.It provides high-level trends on the status of renewables in the wider fossil fuel-dominated energy

64、system in the context of global challenges such as climate change,development goals and the geopolitical landscape.gigawatts(GW)renewable power capacity added in 2023billion USD global new investment in renewable power and fuels in 2023473623151countries with net zero targets in place in 2023,compar

65、ed to 90 countries with established renewable energy targetsKEY FACTSPolicy and TargetsInvestment and FinanceChallenges and Opportunities11RENEWABLES 2024 GLOBAL STATUS REPORT GLOBAL OVERVIEWModule OverviewGLOBAL CONTEXT In 2023,renewable energy globally was on a path of recovery and progress,set ag

66、ainst persistent challenges and disparities among technologies and regions.The energy crisis of the previous year continued to abate,with the world witnessing a remarkable boom in solar photovoltaics(PV)and a significant surge in energy investments.1 Global additions to renewable power capacity incr

67、eased an estimated 36%in 2023 to reach around 473gigawatts(GW),a new record for the 22nd consecutive year.2 Solar PV drove the increase and accounted for three-quarters of all the renewable power capacity additions in 2023.3The progress in renewable power additions was global but varied across regio

68、ns and technologies.In the United States,the only growth relative to 2022 was in solarPV,with its total installed capacity increasing more than 50%to nearly 33GW,whereas wind power additions fell to their lowest level since 2014.4 In the European Union(EU),solar PV capacity additions increased from

69、41GW in 2022 to 56GW in 2023,and wind power additions totalled 17GW in 2023,up slightly from 2022.5China continued to dominate the renewable energy sector,commissioning an amount of solarPV capacity in 2023 alone that was equivalent to the total global solarPV additions in 2022.6 China also operated

70、 around 30GW of offshore wind power by the end of 2023,roughly half the global capacity.7 These developments were counterbalanced by Chinas strong increase in energy production and consumption overall,including of fossil fuels.In 2023,the country approved 114GW of coal power capacity,up 10%from 2022

71、.8 In total,China approved 218GW of new coal power plants in the two-year period from 2022 to 2023,more than the total installed power capacity of Brazil.9The renewables sector also faced ongoing challenges in 2023.Geopolitical conflicts in Europe,the Middle East and elsewhere continued to disrupt s

72、upply chains and international transport,impacting energy markets.Global energy-related greenhouse gas emissions increased 1.1%to a record 37.5billiontonnes of carbon dioxide(CO2),with emissions from coal contributing nearly two-thirds of the increase.10 The Earths average surface temperature was re

73、portedly around 1.2degrees Celsius(C)higher than in the pre-industrial era,and extreme weather events,including record temperatures and heatwaves,became more frequent.11 The year 2023 also was defined by growing protectionism,especially in the renewable energy sector.The EU and the United States too

74、k steps to reduce their strong reliance on China for minerals and for renewable energy components and technologies.12In many countries,concerns about energy security have accelerated the transition to renewables and energy efficiency;however,some other countries have opted to embrace fossil fuels fo

75、r energy supply assurance.13 Global investment in both fossil gas and coal infrastructure remains substantial.14 Many developing countries have prioritised short-term economic growth over long-term energy transition.15Opposition to renewables has continued to challenge the sectors development,despit

76、e advancements in technology and growing awareness of environmental concerns.16 Progress in renewable energy deployment,policy and investment worldwide remains unevenly distributed geographically,and this disparity highlights the enduring issue of energy inequality.17 With roughly half of the worlds

77、 population expected to face elections in 2024,the outcomes of these contests will be crucial to renewable energy developments,either enabling positive progress or putting a halt to some of the policy momentum.18ECONOMIC OVERVIEWThe global energy sector is navigating a complex macro-economic environ

78、ment.19 Although average inflation worldwide declined in 2023 falling from a projected 8.7%in 2022 to around 6.9%it was still well above the 2020 level of 3.2%.20 Energy prices continued to shape the global economic landscape.In many countries,wholesale electricity prices remained high despite a not

79、able drop in the prices of energy commodities such as fossil gas and coal in the first half of 2023.21Global investment in renewables grew 8%during the year to reach USD622.5,up from USD576billion in 2022.22 However,the renewables sector,once propelled by falling costs,low interest rates,and politic

80、al support,is now contending with supply chain issues and operating in a context of rising interest rates that have inflated prices and tested the commitment of consumers and governments,despite unprecedented investment and progress in recent years.23 As a consequence of this financial shift,some of

81、 the more costly renewable energy projects have been cancelled or delayed.24 The solar PV industry experienced a year of low profitability and valuation.In the United States,the stock prices of major solar companies were down 37-46%in 2023 due mainly to high interest rates,rising material costs,dela

82、ys in permitting,excess inventory and slowed revenue growth.25 For the offshore wind market,issues related to supply chain delays and rising demand as well as higher raw material costs,shipping costs,interest rates and inflation led to projects not being delivered in time or in some cases being shel

83、ved.26 A renewable energy auction in the United Kingdom in the summer of 2023 failed to attract any bids from developers,and wind energy projects in the Netherlands,Norway and the United States also experienced extensive delays and price renegotiation.27 After reporting a loss of USD5billion(EUR4.6b

84、illion)for the year,due mainly to quality problems at its Spain-based wind unit,Siemens Energy received loan guarantees from the German government and several banks for around EUR12billion(USD13billion).28Policy and TargetsInvestment and FinanceChallenges and Opportunities12RENEWABLES 2024 GLOBAL ST

85、ATUS REPORT GLOBAL OVERVIEWModule OverviewThe rising cost of capitali is especially concerning for emerging markets,where high interest rates are pushing countries towards a debt crisis.29 As the cost of financing becomes more burdensome,countries are increasingly getting stuck in a vicious circle k

86、nown as the climate debt trapii and must urgently tackle rising debt.30 Central bank rate hikes,aimed at controlling inflation,have increased borrowing costs,hindering the financing of capital-intensive renewable energy projects globally.31The adverse context of higher interest rates worldwide has e

87、xacerbated the financial challenges for developing countries,which play a crucial role in addressing global climate change but now face greater investment hurdles.32 Efforts to restructure international finance have gained attention,including through the Bridgetown Initiativeiii.There is a need for

88、both enhanced short-term liquidity mechanisms and long-term sustainable development funding to better manage the immediate impacts of crises and drive more robust reform of the global financial architecture.33RENEWABLES AND GLOBAL TRADEGlobal renewable energy trade is increasingly marked by protecti

89、onism,as governments impose restrictions to bolster domestic industries.This includes the deployment of incentives and policies favourable to local manufacturing and local incentives,driven by initiatives such as the EUs Carbon Border Adjustment Mechanism and the US Inflation Reduction Act(p see Sna

90、pshot:United States).34Globally,the trade landscape is increasingly shaped by“friend-shoring”,or the practice of relocating supply chains to,and sourcing inputs from,countries that are considered political and economic allies.35 This trend is a response to the supply chain disruptions experienced in

91、 recent years,as well as a strategic move to align with countries that share similar commitments to climate and sustainability goals and to addressing concerns about human rights abuses.36China continued to dominate renewable energy manufacturing in 2023,particularly for solar PV,and was also a majo

92、r supplier and manufacturer of critical minerals.37 The country hosts more than 80%of the worlds solar panel manufacturing capacity and is home to ten leading suppliers of solar PV manufacturing equipment.38 Although Chinas dominance in the solar industry has been key to reducing costs globally,this

93、 high geographic concentration of supply chain activities presents risks.39Both the EU and the United States have expressed concerns about their over-reliance on Chinese renewable energy products:for example,China supplies more than 95%of the solar panels and parts installed in the EU.40 The key aim

94、s of the EUs Net-Zero Industry Act and the Carbon Border Adjustment Mechanism are to incentivise local renewable energy manufacturing and impose a cost on carbon emissions for imported goods,thereby creating a financial incentive for non-EU countries to align with the regions climate goals.41 The in

95、flux of inexpensive Chinese solar panels in Europe has boosted solar installations but also threatened local manufacturers with potential collapse,prompting the EU to consider protective measures.42Chinas growing dominance in the renewable energy component industry has influenced trade policy in the

96、 United States,which has increasingly turned to the EU,India,Cambodia,Malaysia,Thailand and Viet Nam to import solar panels(in addition to boosting domestic solar manufacturing capacity).43 US support for Indias solar industry may have unintentionally enabled the entry into the United States of ille

97、gal Chinese solar components(banned due to forced labour issues)through Indian-assembled products.44 The move towards friend-shoring and on-shoringiv is,in part,a reaction to these challenges,offering a way to strengthen supply chains and diversify the supply of renewable products.45Critical mineral

98、s are essential raw materials used for manufacturing renewable energy technologies,electric vehicles and electricity networks.46 In 2023,growth in the renewables sector drove surging interest in critical minerals including a tripling in lithium demand,a 70%increase in cobalt demand and a 40%increase

99、 in nickel demand as clean energy applications consume growing shares.47 The market value of key energy transition minerals doubled in 2023 to USD 320 billion.48 Despite overall price drops in 2023,many minerals remain costly for achieving energy transition goals.49 Investment in critical minerals e

100、xploration and extraction has risen,with companies in China doubling their spending in 2022,and exploration activities booming across Africa,Australia,Brazil and Canada.50 Investment in critical minerals increased 30%in 2022,with exploration spending rising 20%.51i The cost of capital measures the c

101、ost that a business incurs to finance its operations.It measures the cost of borrowing money from creditors or raising it from investors through equity financing.ii The climate debt trap refers to already indebted countries needing to borrow more as their climate vulnerabilities go up.iii The Bridge

102、town Initiative is a policy proposal announced by the prime minister of Barbados at the United Nations(UN)Climate Change Conference in Sharm El Sheikh,Egypt,in 2022.It became a central discussion item during the 2023 Paris Summit for a New Global Financing Pact.iv On-shoring is the process of sourci

103、ng or relocating production and manufacturing within domestic borders.90%of solar PV manufacturing is concentrated in only 5 countriesPolicy and TargetsInvestment and FinanceChallenges and Opportunities13RENEWABLES 2024 GLOBAL STATUS REPORT GLOBAL OVERVIEWSNAPSHOT UNITED STATESTHE INFLATION REDUCTIO

104、N ACTS ONE-YEAR IMPACT ON US CLEAN ENERGY PROGRESSAt the one-year mark following the signing of the US Inflation Reduction Act(IRA)of 2022,the legislation continued to show mixed results.Although rules and regulations on how to unlock finance from the IRA were still being published as of August 2023

105、,the clean energy sector in the United States had made positive strides.The country experienced a boom in solar PV installations nationwide,as well as a surge of project announcements and developments across various industries.Private investors were showing great confidence in the US clean energy tr

106、ansition as of mid-2023,with USD 278 billion in new investments announced,linked to the creation of 170,000 new jobs.The roll-out of the IRA also unlocked USD 70 billion in grants,rebates and other non-loan funding.Manufacturing announcements included 272 new clean energy projects spanning a diverse

107、 range of sectors,including 84 wind and solar manufacturing projects,91 battery manufacturing sites and 65 electric vehicle manufacturing facilities.The IRA is expected to supercharge the shift to electric vehicles,with incentives for consumers as well as automakers.The US Postal Service alone recei

108、ved USD 3 billion for clean vehicles in 2022 as part of the IRA.Guidelines for home energy rebate programmes also were introduced,featuring substantial provisions targeting low-income households.In the power sector,announcements included plans to replace a coal-fired plant in Puerto Rico with a sola

109、r and storage plant,and plans by a Michigan utility for 15 GW of new solar and wind power capacity.Although incentives for hard-to-abate energy-intensive industries were not yet rolled out,funding was allocated for tax rebates and demonstration projects.The US renewable energy landscape also experie

110、nced setbacks in 2023.Several large projects were cancelled or rescheduled;energy trading stocks plummeted in the second half of the year;and electric car sales did not reach targets.Plans for some offshore wind projects were cancelled,and automakers Ford,General Motors and Tesla announced scale-bac

111、ks of electric vehicle plants.Chinese solar giants also entered the race to build factories in the United States,leveraging the IRAs subsidies to expand their manufacturing footprint and help meet Americas clean energy goals,despite the US aim to reduce its reliance on foreign solar production.Sourc

112、e:See endnote 34 for this module.Module OverviewPolicy and TargetsInvestment and FinanceChallenges and Opportunities14RENEWABLES 2024 GLOBAL STATUS REPORT GLOBAL OVERVIEWModule OverviewRENEWABLES MANUFACTURING CAPACITY AND EMPLOYMENTRenewable energy manufacturing capacity has experienced robust grow

113、th.52 In the decade between 2013 and 2023,solar manufacturing increased 10-fold globally,driven by rising demand for clean energy and by industrial policies that enabled economies of scale and spurred demand.53 However,the solar manufacturing industry has grappled with a utilisation rate of around 4

114、0%,well below the 70%expected in a fully mature industry.54 Inefficiencies are attributed to persistent supply chain bottlenecks and to more rapid growth in solar manufacturing capacity than in PV deployment.55Solar manufacturing is highly concentrated geographically,with just five countries hosting

115、 more than 90%of the global capacity for producing solar modules.56 China leads with around 80%of overall solar PV manufacturing capacity,followed by Viet Nam,India,Malaysia and Thailand.57 China accounts for 60%of the global manufacturing capacity for solar PV,wind,and batteries combined,as well as

116、 40%of electrolyser manufacturing.58 Europe retains strong manufacturing capacity for wind turbine components.59 In the case of critical minerals,supply chains remain highly concentrated in a handful of countries,posing a risk for future renewable energy deployments.60In early 2024,manufacturers in

117、Europe warned of potential closures of solar panel plants as less-expensive Chinese imports undercut local producers.61 Europes solar industry requires accelerated funding to support supply chain development,reduce reliance on Asian imports and foster new technologies.62 EU leaders have sought to su

118、pport and expand the regions solar manufacturing capacity through policies such as the Net-Zero Industry Act,which targets producing 40%of renewable components locally.63 However,a shortage of skilled workers threatens these goals,as Europe struggles to meet the rising demand for solar products.64Gl

119、obal employment in the renewable energy sector grew 8%in 2022(latest data available)to reach 13.7million jobs.65 This was double the number a decade prior and represents more than one-fifth(21%)of all jobs in the energy industry.66 Two-thirds of renewable energy employment was based in Asia,and Chin

120、a alone was home to 41%.67 Around one-third of all renewable energy jobs are in solar PV,totalling 4.9million in 2022.68 Hydropower jobs increased 2.3%in 2022 to 2.5million,while biofuels maintained 2.5 million jobs(mainly in the agriculture sector).69 Wind power employment was steady at around 1.4m

121、illion jobs,with most of the positions in China and Europe.70 However,the renewable energy sector overall continued to face a shortage of skilled workers,as the number of workers obtaining relevant qualifications in renewables has not kept pace with demand.71RENEWABLE ENERGY AND CLIMATE CHANGEIn 202

122、3,the impacts of climate change were increasingly apparent around the world.72 The year was deemed the warmest on record globally and was marked by devastating natural calamities,including massive floods,raging wildfires,severe droughts,landslides,cyclones and storms.73 These disasters led to the di

123、splacement and deaths of tens of thousands of people worldwide.74 Notable events included severe flooding in China,Hong Kong,Mexico,the Mediterranean region,and Western Europe,as well as extreme drought conditions in parts of the world including the Amazon rainforest.75During the year,countries enha

124、nced their collaboration on renewable energy and penned several related international agreements.The United States and India agreed to launch a renewable energy technology platform,with a focus on wind and geothermal energy,energy storage and hydrogen.76 The United States and China,in a side negotia

125、tion at the G20 summit in Bali,Indonesia,reached a climate agreement to speed renewable energy development and accelerate the reduction of fossil fuels.77 The We Mean Business Coalition,representing more than 130companies with a combined annual revenue of nearly USD1trillion including giants such as

126、 eBay,IKEA and Volvo Cars pushed for a fully decarbonised power sector in developed regions by 2035 and in emerging economies by 2040,in an effort to end fossil fuel consumption and ramp up clean energy production.78At the 2023 UN Climate Conference in Dubai,United Arab Emirates(COP 28),the outcome

127、for the renewable energy sector was complex and nuanced.79 Notably,renewables and energy efficiency were mentioned in the conferences final text,aligning with global efforts to achieve sustainable climate,energy and economic objectives.80 For the first time,countries agreed on the need to“transition

128、 away from fossil fuels to renewables”.81 In a key COP 28 commitment,130 countries pledged to triple the worlds renewable energy capacity and to double the annual rate of energy efficiency improvements by 2030,in a push to limit global warming to 1.5C above pre-industrial levels by the end of the ce

129、ntury.82 The signatories collectively accounted for 40%of the global CO2 emissions from fossil fuel combustion,37%of the emissions from global energy demand and 56%of global GDP.83 However,China and India,two of the largest emitters of greenhouse gases,were not among the pledge participants.84(p See

130、 Snapshot:China and India.)Global employment in renewable energy grew 8%in 2022 to reach 13.7 million jobs.Policy and TargetsInvestment and FinanceChallenges and Opportunities15RENEWABLES 2024 GLOBAL STATUS REPORT GLOBAL OVERVIEWSNAPSHOT CHINA AND INDIA WHY CHINA AND INDIA HAVE HESITATED TO SIGN THE

131、 GLOBAL PLEDGE TO TRIPLE RENEWABLESAs a side agreement at the UN Climate Conference(COP 28)in Dubai in November 2023,countries agreed on a new Global Renewables and Energy Efficiency Pledge,which aims to triple the worlds renewable energy capacity to 11,000 GW and to double energy efficiency improve

132、ments by 2030.As of early 2024,130 had signed the pledge;however,it continued to face challenges in garnering universal support,with both India and China abstaining from participation.China has been the worlds largest and fastest growing producer of renewable energy for the last decade,and in 2023 t

133、he country installed more new solar power capacity(up 55%from 2022)than all other countries combined,including the United States.India ranked fourth globally for renewables installed capacity in 2023,adding 13.5GW during the year.Despite being key drivers of the global energy transition and dominant

134、 players in renewables,both India and China were notably absent from the tripling pledge.Their abstention from the pledge was driven by several common concerns as well as by country-specific issues.The shared concerns related mainly to the two countries stances on coal,in addition to financial consi

135、derations,national priorities and broader strategic perspectives on climate negotiations.Moreover,China is likely to face challenges achieving the ambitious energy efficiency target in the pledge,and India voiced concern about the lack of specifics regarding financial and technical support for devel

136、oping countries.Meanwhile,both China and India have committed to the goals outlined in the separate G20 New Delhi Leaders Declaration,adopted in September 2023.Similar to the Global Renewables and Energy Efficiency Pledge,the New Delhi declaration includes a significant aim to triple renewable energ

137、y capacity by 2030 and to double energy efficiency efforts.However,the Delhi agreement and the COP 28 pledge differ importantly in their approaches to the transition away from coal use.The COP 28 pledge presents a more stringent set of requirements,calling for an end to all investments in unabated n

138、ew coal-fired power plants.This would be a significant challenge for both China and India,globally the top coal-consuming countries.In 2023,these two nations collectively accounted for more than one-third(37%)of the total annual CO2 emissions globally,and they are responsible for building most of th

139、e worlds new unabated coal-fired power plants.Although the G20 agreement calls for phasing down unabated coal power,it emphasises the importance of supportive transitions tailored to national circumstances,rather than stringent commitments for all countries.China is on track to achieve its 2030 targ

140、et for 1,200 GW of renewable capacity five years early.However,doubts exist about the countrys ability to realise the ambitious 4%annual energy efficiency improvement stipulated in the COP 28 pledge.This would require significant structural shifts in both Chinas power system and overall economy.Addi

141、tionally,China is believed to have already maximised many of its opportunities for efficiency improvements,and recent economic slowdowns will likely complicate progress.Finally,the countrys preference for the UN Framework Convention on Climate Change(UNFCCC)as the primary platform for climate decisi

142、on making has led to Chinas reluctance to endorse additional side commitments outside the UNFCCC framework,due to concerns about accountability and effective implementation.Beyond its stance on a coal phase-out,Indias decision not to sign the COP 28 pledge stemmed from a focus on addressing national

143、 priorities and securing additional funding support.Although India emphasises its ambitious renewable energy targets,it has hesitated to commit to actions that might hinder national development,since energy access and security are top priorities in the countrys energy transition.India also emphasise

144、d the need for greater financial and technical assistance from developed countries to help developing countries achieve ambitious renewable energy targets.In India,as in much of the developing world,the financial demands required to attain global renewable targets(such as the International Energy Ag

145、encys net zero scenario)greatly exceed the countrys current investment and funding capacities.Source:See endnote 84 for this module.Module OverviewPolicy and TargetsInvestment and FinanceChallenges and Opportunities16RENEWABLES 2024 GLOBAL STATUS REPORT GLOBAL OVERVIEWModule OverviewSeveral efforts

146、during COP 28 were aimed at phasing out fossil fuels.Nine additional countries Cyprus,the Czech Republic,the Dominican Republic,Iceland,Kosovo,Malta,Norway,the United Arab Emirates and the United States joined the Powering Past Coal Alliance,bringing the total number of signatories to 60.85 In addit

147、ion,Kenya,Samoa and Spain joined the Beyond Oil and Gas Alliance,for a total of 19 members.86 At COP 28,Colombia became the first major oil-exporting country to sign the fossil fuel non-proliferation treaty,bringing the number of signatories to 11countries.87During the Dubai event,50 fossil fuel com

148、panies,representing 40%of the global production,signed the Oil and Gas Decarbonization Charter,pledging to end gas flaring by 2030 and to reach net zero emissions in their operations by 2050.88 However,the charter was widely criticised for being a prime example of greenwashing,as it said nothing abo

149、ut eliminating emissions from global fossil fuel use.89Such commitments,while significant,underscore the need for a co-ordinated approach that includes a rapid phase-out of fossil fuels to achieve a fully sustainable energy system.90Other noteworthy outcomes from COP 28 included the Supercharging Ba

150、ttery Storage Initiative to support innovation for better energy storage solutions(backed by Australia,Canada,the European Commission and the United States)and the launch of the Utilities for Net Zero Alliance,gathering 31 partners including major utilities.91 Such initiatives highlight the rise in

151、international co-operation and action on renewables,despite the challenge of aligning all major emitters under unified commitments.92TOTAL FINAL ENERGY CONSUMPTIONThe worlds total final energy consumption(TFECi)grew 5%in 2022 to 399 exajoules(EJ),reflecting widespread economic recovery from the impa

152、cts of the COVID-19 pandemic.93 Modern renewablesii represented 13%of the global TFEC in 2022,the same share as in 2021.94(p See Figure 1.)Oil and coal use have also increased.Fossil oil consumption averaged 101.1 million barrels a day in 2022,slightly above the pre-pandemic record of 101.0 million

153、barrels a day.95 Coal consumption rose 1.4%in 2023 to surpass 8.5 billion tonnes annually for the first time ever.96 For fossil gas,the annual FIGURE 1.Total Final Energy Consumption by Source,2012 and 2022Source:IEA,REN21.See endnote 94 for this module.Exajoules(EJ)400300200100020222012Growth 2012-

154、2022TFEC(EJ)81.1%Fossil fuels9.5%Others79.0%Fossil fuels8.1%Others12.9%+58%+13%Modern renewables9.5%ModernrenewablesModernrenewablesFossil fuels4.9%1.0%7.0%Renewable electricityRenewable heat Biofuels fortransport+16%i Total final energy consumption(TFEC)is the sum of energy used by the end-users ac

155、ross all sectors,including industry,transport,residential,commercial and agriculture.It represents the energy that consumers directly utilise for heating,manufacturing,driving,cooking and other processes after it has been converted from primary energy sources into usable forms such as electricity,re

156、fined fuels and thermal heat.TFEC excludes the energy used for conversion processes and losses incurred during energy production and energy transport.ii Modern renewables does not include traditional uses of bioenergy such as direct burning of wood fuels,agricultural by-products and dung burned for

157、cooking and heating purposes.Modern renewables represented 13%of the global TFEC in 2022,the same share as in 2021.Policy and TargetsInvestment and FinanceChallenges and Opportunities17RENEWABLES 2024 GLOBAL STATUS REPORT GLOBAL OVERVIEWModule Overviewgrowth in consumption has slowed from an average

158、 of 2.5%in 2017 to an average of 1.6%during 2021-2022.97Global energy-related CO2 emissions continued their upward trajectory in 2023(following a brief decline early in the pandemic),rising by 410 million tonnes(1.1%)to reach 37.4 gigatonnes.98 Emissions from coal combustion accounted for more than

159、two-thirds of the increase(71%),followed by oil(25%)and fossil gas(4%).99 By sector,CO2 emissions in 2023 increased in the transport sector by 239 million tonnes(58%of the total increase),in the power sector by 197 million tonnes and in the industry sector by 39 million tonnes;in contrast,emissions

160、decreased in the buildings sector,falling by 92milliontonnes due to efficiency gains and mild winters.100The distribution of TFEC varies across sectors and end-uses.In 2022,the industry sector accounted for 34%of TFEC,followed by the buildings sector(30%),transport(26%),otheri(6%)and agriculture(3%)

161、.101 The industry sector remained the largest consumer of energy,particularly in energy-intensive sub-sectors such as iron and steel,chemicals,and non-metallic minerals.102 Renewables represented nearly 17%of the industry sectors TFEC in 2021.103In the buildings sector,energy consumption increased 1

162、%in 2021.104 Modern renewables represented nearly 16%of the sectors TFEC.105 The transport sector grew a robust 7%in 2021,due mainly to a 20%increase in the energy demand for aviation.106(Despite this surge,as of 2021 aviations energy consumption had not fully rebounded to pre-pandemic levels.107)Re

163、newables represented only 4%of the transport sectors TFEC.108 Energy consumption in the agriculture sector increased 4.4%in 2021,surpassing 2019 levels by 1%,with renewables representing 16%of TFEC in 2021,similar to 2020.109In 2021,Iceland remained the country with the highest share of renewable en

164、ergy in TFEC,at 83%,due to the strong presence of hydropower and geothermal;it was followed by the Lao Peoples Democratic Republic(PDR)(73%)and Gabon(66%),both of which rely heavily on hydropower.110(p See Figure 2.)FIGURE 2.Renewable Share of Total Final Energy Consumption,by Country,2021i Other“in

165、cludes energy consumption that has not been specified elsewhere,including energy use for military purposes.Note:The top 10 countries with the largest renewable share in TFEC in 2021 were Iceland,Lao PDR,Norway,Gabon,Paraguay.Sweden,Uruguay,Finland,Brazil and Latvia.Some countries with over 30%renewa

166、ble energy in TFEC do not yet have universal energy access.As of 2022,Lao PDR(97%),Gabon(93%)and Madagascar(32%)did not have universal access to electricity.The top 10 countries with the largest increase in renewable share in TFEC(2011-2021)were Lao PDR,Albania,Sweden,Uruguay,Finland,Gabon,Norway,Ne

167、pal,Estonia and Montenegro.Source:IEA,REN21.See endnote 110 for this module.Renewable share in total final energy consumption(TFEC in%)Number of countries6139189 4 7 50%Iceland continues to have the highest share of renewable energy in TFEC,at 83%in 2023,with a strong reliance on hydropower and geot

168、hermal.Policy and TargetsInvestment and FinanceChallenges and Opportunities18RENEWABLES 2024 GLOBAL STATUS REPORT GLOBAL OVERVIEWModule OverviewELECTRICITYElectricity generation worldwide increased an estimated 2.5%in 2022,to reach 28,294 terawatt-hours(TWh).111 The sectors modest yet steady growth

169、reflects the continuous expansion in global electricity needs.112 Renewable electricity generation grew an estimated 8%in 2022 to 8,540TWh;the combined growth in wind and solarPV generation was enough to meet 80%of the increase in the total global electricity demand for the year.113 This significant

170、 growth reflects the shift towards greater use of renewables,which supplied around 30%of the worlds total electricity generation in 2022.114Wind and solar PV experienced record generation growth to achieve a combined 12%share in the global electricity mix in 2022,up from 10%in 2021.115 Solar PV was

171、the fastest growing electricity source for the 18th consecutive year,soaring 24%in 2022.116 Wind power followed closely with a 17%increase in generation.117 The expansion of renewables was widely distributed globally,with 60 countries generating more than 10%of their electricity from wind and solar

172、power in 2022.118Global renewable power capacity increased 36%in 2023,adding 473 GW globally to reach a cumulative total of 3,870 GW by years end.119 Wind and solar PV together accounted for 97%of the renewable capacity additions,and renewables represented 86%of the total power capacity additions(fr

173、om all energy sources)in 2023.120ELECTRICITY DEMANDElectricity demand varies greatly by sector.In recent years,the buildings sector has shifted towards a higher share of electricity use,driven by the adoption of electric heating,cooling,and cooking solutions and other appliances.Electricity consumpt

174、ion in the sector increased 2.5%in 2022.121In the transport sector,electricity demand surged in 2022,particularly in road transport where electricity use has grown 60%since 2019.122 The rapid integration of electric vehicles has signalled the shift towards lower-carbon transport modes.123 Nearly 14

175、million electric and plug-in-hybrid vehicles were sold worldwide in 2023,a 31%increase from 2022.124 These vehicles accounted for nearly 15.8%of all vehicle sales globally,up from 13%in 2022.125 Emerging markets account for only a fraction of electric vehicle sales,but these have experienced notable

176、 growth,especially for electric two-and three-wheelers.126 India,Indonesia and Thailand were among the fastest growing markets for electric vehicles in 2022.127 In some developed markets,electric vehicles now account for up to half of all cars sold,a significant milestone in the transition towards l

177、ower-carbon transport.128The industry sector has shown a similar trend towards electrification,especially for less energy-intensive industries that have lower thermal requirements.Between 2011 and 2021,the share of electricity use in industry increased from 22%to 26%.129 In the agriculture sector,el

178、ectricity accounted for nearly 30%of the energy use in 2021,with 9%of total energy consumption coming from renewable electricity.130ACCESS TO ELECTRICITY AND CLEAN COOKINGAfter setbacks during the COVID-19 pandemic,access to electricity globally appears to have improved,with the number of people wit

179、hout electricity access falling from 756 million in 2022 to an estimated 745million in 2023.131 In sub-Saharan Africa,the population without electricity access grew for three consecutive years but was projected to level off in 2023.132 Across Africa overall,only 58%of the population had electricity

180、access as of 2022.133 Globally,a total of 113 countries still lacked universal access to electricity that year,and 59 of them had no targets for electricity access.134 Finance remains a barrier for countries to implement energy access solutions.In 2022,development finance for renewable energy genera

181、tion was USD 7.8 billion,representing only a tiny fraction of the total amount invested in all renewables globally(USD576 billion).135 (p See Sidebar2 on page30.)As of 2023,one in three people globally still used traditional biomass,coal and kerosene for cooking.136 This has severe repercussions for

182、 peoples health and the environment.137 Although access to clean cooking has increased in Asia and Latin America,nearly 1billion people in Africa almost 70%of the continents population lacked clean cooking facilities in 2022.138ENERGY SYSTEMS AND INFRASTRUCTUREThe worlds energy systems and infrastru

183、cture have continued to face both complex challenges and opportunities as system operators and energy planners adapt to new realities.139 Traditional business models that have long served the generation sector have proved inadequate for the evolving needs of electricity grids and transmission and di

184、stribution networks,which rely heavily on public finance.140 Globally,an estimated 3,000 GW of renewable energy projects were still awaiting connection to the grid as of 2023,signalling a growing bottleneck.141(pSee Sidebar1.)The number of people without access to electricity fell from 756 million i

185、n 2022 to an estimated 745 million in 2023.Policy and TargetsInvestment and FinanceChallenges and Opportunities19RENEWABLES 2024 GLOBAL STATUS REPORT GLOBAL OVERVIEWSIDEBAR 1.Tackling the Bottleneck of Renewable Energy Connection Queues The global transition to renewable energy is facing a critical

186、bottleneck at the grid connection stage,with at least 3,000GW of projects(half in advanced stages)awaiting integration.This backlog is equivalent to five times the total capacity of solarPV and wind power added in 2022.Despite soaring investments in renewables(growing 19%annually on average since 20

187、20),global funding for grid infrastructure has stagnated(up 3%annually on average).In 2023,grid investments totalled around USD300billion,a level insufficient to accommodate the burgeoning demand for new renewable connections.In the United Kingdom,developers are facing connection queues of 1015years

188、.Of the 3,000 GW of projects awaiting grid integration globally,an estimated 1,500GW are in advanced stages,located mainly in the United States,Spain,Japan,Brazil,Italy,the United Kingdom,Germany,India,Australia,Mexico,Chile and Colombia.Around one-third of these projects(500GW)have a high chance of

189、 connecting to the grid within five years,as they are in the final stages of signing connection agreements.For the remaining 1,000GW of advanced projects under review,the need for grid enhancements could delay or halt progress.Meanwhile,projects in the earliest stages of development may face prolong

190、ed feasibility assessments and financial constraints.Of the 1,500 GW of early-stage projects,many reflect only a preliminary expression of interest from private developers.In some countries,the grid queue application process involves minimal documentation,yet projects still require time-consuming fe

191、asibility studies and permitting processes.To address the connection backlog,expansive grid upgrades are needed.Among recent measures taken to mitigate these issues,the EU has mandated full compensation to project developers for grid-related curtailment;the UK system operator has imposed milestones

192、to manage speculative project applications;and France and Germany both require planning permissions before developers can apply for connections.Additionally,efforts like the EUs Action Plan for grids and a new ruling from the US Federal Energy Regulatory Commission aim to streamline grid connections

193、,indicating a concerted effort to tackle the queuing challenge.Source:See endnote 141 for this module.Module OverviewPolicy and TargetsInvestment and FinanceChallenges and Opportunities20RENEWABLES 2024 GLOBAL STATUS REPORT GLOBAL OVERVIEWModule OverviewGlobally,deployment time spans for essential g

194、rid infrastructure such as high-voltage transmission lines can extend up to 15 years.142 Substantial investment is needed in grid infrastructure for reliable energy supply,as the current pace of grid development lags behind the requirements for a successful energy transition.143 Developing economies

195、 are faced with compounded financial challenges,where utilities need to invest in grid expansions while also strengthening their existing grids,all in a context of limited resources and a cost of borrowing several times higher than in advanced economies.144Regional interconnections enable the effici

196、ent transmission of renewable energy sources,enhancing grid stability and supporting the integration of larger shares of renewables across regions and continents.In August 2023,as a side initiative at the 41st ASEAN Ministers on Energy Meeting,four Southeast Asian countries Lao PDR,Malaysia,Singapor

197、e and Thailand agreed to a Power Integration Project,signing a memorandum of understanding on 18potential locations to set up cross-border transmission lines.145The market for energy storage has also expanded.146 Pumped storage remains the most widely deployed storage technology(with 10.5GW added in

198、 2022,bringing the total to 175GW),and utility-scale battery storage is growing rapidly(with 11.1GW added in 2022,bringing the total to 28GW).147 The battery storage sector faces challenges related to rising costs,strained supply chains and the burgeoning demand for similar resources from the electr

199、ic vehicle market,which could complicate expansion.148 Utility-scale battery storage systems have experienced a strategic shift towards diverse revenue streams,such as ancillary services and capacity auctionsi.149Residential energy storage,the smallest segment,is expected to increase alongside the g

200、rowing interest in energy independence and self-consumption.150 Lithium-ion batteries have gained market share due to their lower cost and high efficiency,while alternatives such as sodium-ion batteries are reaching commercial scale.151The development of public infrastructure for electric vehicles h

201、as remained strong.By the end of 2022,around 2.7 billion public charging points had been installed globally,up 55%from 2021.152 Battery swappingii has emerged as a viable option in some countries,offering advantages in both charging time and cost.153 China leads in this technology,having installed l

202、arge numbers of swapping stations for two-and three-wheelers as well as trucks and passenger cars.154Global hydrogen demand grew 3%in 2022 to 95milliontonnes.155 However,the uptake of renewable hydrogen has been slow,accounting for just 0.7%of total hydrogen demand that year.156 This modest growth r

203、eflects the large economic challenges facing the industry,with sharply higher costs for renewable hydrogen in 2023 due to factors such as higher labour and material costs,an increase in the cost of capital of 3 to 5 percentage points,and a 30%surge in the cost of renewable power.157Globally,China ha

204、s emerged as a leader in the deployment of electrolysers used to produce hydrogen.158 Driven by large-scale projects,the countrys share of the global electrolyser capacity was expected to increase from less than 10%in 2020 to 50%by the end of 2023.159 In 2023,China accounted for more than 40%of the

205、projects that had reached the final investment decision stage.160Hydrogens potential as a decarbonisation solution has increased with ongoing discoveries of white hydrogen,or hydrogen that can be found naturally and has the capacity to replenish.161 The environmental benefits of renewable hydrogen d

206、epend critically on how it is produced and which sectors it is used in.162 The use of clean hydrogen can be strategically targeted towards those industries and activities where direct electrification is not feasible,such as certain manufacturing processes,heavy transport and energy storage.163Sector

207、 coupling refers to the linking of the electricity sector with other end-uses such as thermal energy for buildings and industry,and the transport sector.This can be a strategic way to integrate higher shares of variable renewable electricity into energy systems while also increasing the share of ren

208、ewables in non-electricity sectors.It can minimise the curtailment of renewable energy generation by increasing system flexibility,using the surplus electricity from other end-use sectors and storing it for later use(whether in batteries,or as thermal energy or renewable hydrogen).164 Sector couplin

209、g has gained momentum globally but is concentrated mainly in Europe and North America.165Among new players in the sector coupling market in 2023,a German start-up began developing reactors for the direct conversion of renewables into e-fuels and green chemicals,and a US start-up offered a power-to-h

210、eat conversion technology that uses refractory bricks to store and deliver heat,providing industries with a low-cost electrification option.166 Municipal utilities in Germany have shown interest in sector coupling as a way to avoid lost earnings from overproduction or a lack of grid integration.167

211、In Denmark,the worlds largest e-methanol plant came online in 2023 to produce green fuels and to supply excess heat to local district heating,benefiting 3,300 households.168 The plant is directly connected to a solar park and will produce green methanol and renewable hydrogen.169i Ancillary services

212、 are all services required by transmission or distribution system operators to enable them to maintain the integrity and stability of the system as well as the power quality.Capacity auctions are competitive procurement mechanisms to secure electricity supply and safeguard against possible blackouts

213、.ii Battery swapping allows battery electric vehicles to quickly exchange a discharged battery pack for a fully charged one.Module OverviewInvestment and FinanceChallenges and Opportunities21RENEWABLES 2024 GLOBAL STATUS REPORT GLOBAL OVERVIEWPolicy and TargetsPOLICY AND TARGETS At the UNFCCCs COP28

214、,130 countries pledged to triple the worlds renewable energy capacity and double the annual rate of energy efficiency improvements by 2030.The revised EU Renewable Energy Directive of 2023 sets a new target of 42.5%of renewable energy by 2030 and aims for 45%.Member States have since submitted their

215、 renewable energy targets for sub-sectors including transport,buildings and industry.China is the only country on track to meet its renewables target,for a 28%share by 2030.Renewable hydrogen strategies had been adopted by 41countries by the end of 2023,with the EU launching a European Hydrogen Bank

216、 to support the regional market with EUR800million(USD862million)in subsidies.Carbon pricing mechanisms continued to be a popular measure globally,with 39 countries implementing such policies by the end of 2023.Geopolitical shifts and crises of previous years have brought increased policy attention

217、to the renewable energy landscape.While there is no shortage of commitments and pledges aimed at a more sustainable energy future,the real challenge lies in turning these promises into concrete results.countries had nationwide renewable energy targets as of 2023countries had a renewable energy targe

218、t for electricity generation90170151countries had net zero targets in place KEY FACTSModule OverviewInvestment and FinanceChallenges and Opportunities22RENEWABLES 2024 GLOBAL STATUS REPORT GLOBAL OVERVIEWPOLICY CONTEXTThe renewable energy landscape in 2023 was shaped largely by policy decisions and

219、targets adopted in previous years,particularly measures responding to the COVID-19 pandemic,the Russian Federations invasion of Ukraine and the subsequent energy crisis.170 The ambition and effectiveness of these policies helped stimulate large increases in renewable energy investment and in the num

220、ber of projects announced and commissioned during the year.171Geopolitics has played a growing role in the renewables sector.172 Ambitious policies such as the US Inflation Reduction Act and RePowerEU have proven influential in encouraging both individuals and businesses to invest in renewable energ

221、y capacity.173 These policies are promoting energy independence,diversifying supply chains to more countries and countering the dominance of key players such as China in the global energy market.174Many countries have strengthened their commitment to renewables by setting targets.By the end of 2023,

222、90 countries had in place economy-wide targets for renewable energy,although only 7 countries had targets for 100%renewables(most of them aimed at distant time horizons).175 During the year,three countries announced new or updated renewable energy targets.176Despite ambitious targets,countries will

223、continue to fall short of their renewable energy goals if they do not adapt strong policies and regulations.As of December 2023,China was the only country on track to meet its renewable energy target(for 28%renewables in the energy mix by 2030),and China was also ahead in its annual requirements for

224、 renewable capacity additions.177 The EU,despite ongoing efforts,remained off track to meet its target of 42.5%renewables in the energy mix.178 The wide gap between ambition and achievement in most countries globally highlights the need for more effective action to bridge this divide.Policy and Targ

225、etsAs of 2023,7countries had 100%economy-wide renewable energy targets.Module OverviewInvestment and FinanceChallenges and Opportunities23RENEWABLES 2024 GLOBAL STATUS REPORT GLOBAL OVERVIEWPOLICIES AND TARGETS IN ENERGY DEMANDThe global energy landscape is being reshaped by targeted policy interven

226、tions across diverse demand sectors.In the agriculture sector,policies to advance the uptake of renewables remain scarce,whereas in the transport sector policies are being crafted to boost renewable energy use across road,air,rail and shipping modes.Similarly,the buildings sector is focused on polic

227、ies to promote renewables for on-site electricity generation,energy-efficient appliances,as well as heating and cooling.179 The industry sector is shifting towards an emphasis on decarbonisation and energy efficiency,underpinned by comprehensive policies that integrate climate goals with energy and

228、industrial strategies.180Few dedicated policies exist to promote renewable energy in agriculture.Established technologies include biogas and solar-powered water pumps,while the emerging agrivoltaics sector(which combines agriculture and solarPV to maximise land-use efficiency)is maturing rapidly.Fis

229、cal and financial policies are still widely used to advance renewables in the agriculture sector.In 2023,Greece offered grants of up to 60%for farmers to install solarPV systems,and the EU allocated EUR1.7billion(USD1.84 billion)to support agrivoltaics in Italy.181By the end of 2023,a total of 43 na

230、tional and sub-national jurisdictions had renewable energy policies for agriculture,and 18 countries enacted new policies during the year.182 In addition,the EU adopted the 2023-2027 Common Agricultural Policy,which aims to use energy efficiency and precision farming to enhance resource management,a

231、nd to add 1,556MW of renewable capacity through investment support for nearly 180,000farms.183In the transport sector,28countries announced new policies in 2023 to support demand for renewables in road transport,aviation,rail and shipping.184 This brought the total number of countries with renewable

232、 energy policies for transport to 65.185 The EUs New Renewable Energy Directive,adopted in October 2023,includes the option for Member States to choose between a binding target to reduce the greenhouse gas intensity of transport 14.5%by 2030 through the use of renewables,or a binding share of at lea

233、st 29%renewables in the transport sectors final energy consumption by 2030.186Electric vehicle policies continued to lead in road transport.During 2023,at least 13countries including China,France,Iceland,Indonesia and Poland announced fiscal and financial incentives for electrified transport,which a

234、re relevant for the uptake of renewables when coupled with ambitious renewable energy targets.187 Some countries,such as South Africa,increased their biofuel blending mandates.188 Others,continuing the trend observed in 2022,reduced their blending mandates amid the ongoing cost-of-living crisis.189

235、In aviation,the ReFuelEU initiative set a mandate for 2%sustainable aviation fuel in all planes at EU airports by 2025,with a gradual increase to 70%by 2070.190Policies in the buildings sector have focused mainly on heating and cooling.In 2023,several EU countries including Croatia,Cyprus,Denmark,Es

236、tonia,Germany,Italy,Latvia,Portugal,Romania and Slovenia announced new or updated renewable energy targets in the sector.191 The EUs New Renewable Energy Directive includes an indicative target of at least 49%renewables in buildings by 2030.192 Heat pumps continued to benefit from favourable policie

237、s in 18countries.193 Germany adopted contentious legislation calling for the replacement of all fossil fuel heating systems by 2045.194 As of December 2023,10countries had new or updated renewable energy policies in the industry sector,bringing the total to 37 countries.195 Policies in the sector co

238、ntinued to be driven by the need to decarbonise,with a primary focus on energy efficiency.Some countries have increasingly adopted an integrated approach,merging their climate,energy security and industrial policies into broader,more cohesive strategies,such as the US Inflation Reduction Act,the ReP

239、owerEU package and Japans Green Transformation Program.196 In South Africa,the new South African Renewable Energy Master Plan(SAREM)was announced in July 2023;the plan calls for increased investment in industrialisation,localised manufacturing and skilled labour.197(p See Snapshot:South Africa.)As p

240、art of the EUs Green Deal plan,the Net-Zero industry Act was under negotiation in 2023 and includes provisions to boost the manufacturing capacity of net zero technologies(such as renewable energy and renewable hydrogen)by 2030.198 The United Kingdom also published its Net Zero Growth Plan,which inc

241、ludes strategies to achieve the countrys commitment to net zero emissions through renewable energy investment and other measures.199 Renewable heat continued to gain momentum in the industry sector,with new targets announced in Italy,Latvia and Slovenia.200Policy and TargetsModule OverviewInvestment

242、 and FinanceChallenges and Opportunities24RENEWABLES 2024 GLOBAL STATUS REPORT GLOBAL OVERVIEWSNAPSHOT SOUTH AFRICAHOW TRANSFORMATIVE POLICY IS SHIFTING SOUTH AFRICAS RENEWABLE ENERGY LANDSCAPE FROM CRISIS TO OPPORTUNITYCoal mining is crucial to South Africas economy.The sector accounted for around

243、100,000 jobs nationwide in 2021,and in 2023 coal contributed more than 70%of the countrys energy supply and 85%of its electricity generation.Since 2008,the national energy supply has been unable to meet demand,resulting in year-round electricity“load-shedding”.In addition to costing South Africa an

244、estimated USD53billion,this power supply crisis has deterred investor confidence,hindered development,and exacerbated inequality,forcing many residents to rely on costly diesel generators for energy security,which most people cannot afford.Motivated by the pressing need for new generation capacity,a

245、s well as by international pressure to decarbonise,South Africa has put massive efforts into research and planning for a“just energy transition”that suits the local context.Renewable energy deployment has accelerated since 2011 with the launch of the government-led Renewable Energy Independent Power

246、 Procurer Procurement Programme(REIPPPP),a competitive tender process that was designed to facilitate private sector investment in grid-connected renewable energy generation.During 2011-2015,the REIPPPP,along with the Risk Mitigation Independent Power Producer Procurement Programme(RMIPPPP),successf

247、ully secured 11,590MW of renewable energy technologies and 415MW of battery storage capacity,providing valuable lessons for other countries in organising competitive tenders for grid-connected independent renewable power production.In 2023,South Africa experienced a critical juncture in its energy s

248、ector,marked by a series of policy developments aimed at addressing the pressing challenges posed by the ongoing energy crisis.Policies included the following:South African Renewable Energy Master Plan(SAREM):Building on a 2022 draft,the plan focuses on unlocking market demand,driving industrial dev

249、elopment through localisation efforts,ensuring inclusive growth,and building local capabilities in skills and technological innovation.The first such plan for the country,the SAREM sets a clear strategy for energy storage uptake while emphasising the maximisation of local value chains.To leverage So

250、uth Africas already developed manufacturing and assembly industries,the country will likely raise its tariffs on imported solar panel mounting structures(which can also be made with locally sourced steel)and on fully assembled lithium-ion battery packs.Although the plan provides few details on the c

251、ountrys stance on mining and the critical minerals required for the energy transition,it outlines an alignment between the steel,automotive and battery minerals masterplans to improve the competitiveness of local minerals and materials.The SAREM highlights South Africas plans to use public procureme

252、nt to add 22.9GW of utility-scale renewable energy and battery storage during 2022-2030.National Wheeling Framework:A report released in July 2023 outlines steps for municipalities to enable electricity wheeling and introduced a national wheeling framework that is under development.Wheeling involves

253、 delivering energy from producers to end-users via a distribution network,enabling independent power producers to sell electricity directly while paying for grid use.Electric Vehicle White Paper:In line with the global shift towards lower-carbon transport,South Africa introduced a White Paper on ele

254、ctric vehicles in 2023.As Africas largest producer of cars and second largest exporter,South Africa faces significant challenges due to international bans on the export of internal combustion engine vehicles.To support a just transition,the paper outlines a technology-agnostic approach,investment su

255、pport and incentives for the localisation of the automotive supply chain.These emerging policy developments indicate a pro-active and strategic response to the energy challenges facing South Africa.In 2022,a substantial increase in renewable energy project registrations occurred,with 1.6GW reported

256、to the National Energy Regulator of South Africa(NERSA),up sharply from the 86MW recorded in 2021.The momentum continued in the first quarter of 2023,with the registration of 2.5GW.In December 2023,the Ministry of Mineral Resources and Energy launched a seventh round of the REIPPPP,expecting to allo

257、cate 1.8GW of solarPV capacity to add to the existing 5,826MW at the end of 2022.Source:See endnote 197 for this module.Policy and TargetsModule OverviewInvestment and FinanceChallenges and Opportunities25RENEWABLES 2024 GLOBAL STATUS REPORT GLOBAL OVERVIEWPOLICIES AND TARGETS IN ENERGY SUPPLYIntegr

258、ating renewables into energy supply encompasses a diverse range of policy goals,from the promotion of renewable electricity generation to support for renewable heating.Policy measures include setting targets,employing auction mechanisms,leveraging fiscal and financial measures,and adopting renewable

259、 portfolio standards.With the sustained growth in renewable generation capacity worldwide,more countries have updated their targets.In 2023,31countries including Brazil,Cte dIvoire,Egypt,Ireland,Italy and Uganda announced new or revised targets for the renewable share in electricity generation,bring

260、ing the total number of countries with economy-wide renewable energy targets to 90.201(p See Figure 3.)During the COP 28 event,the Latin America and Caribbean Renewables Hub raised its 2030 target for the share of renewables in the regions total electricity generation from 70%to 80%.202 The region a

261、lso aims for 36%renewables in its total energy supply.203By the end of 2023,a total of 170 countries had a renewable energy target for electricity generation.204 Solar,wind and hydropower have dominated technology-specific targets.205Feed-in tariffs remained popular in 2023,and several countries inc

262、luding France,Serbia and Trkiye announced new tariffs for systems of various sizes.206 Auctions and tenders were still in wide use for wind and solar PV,and were increasingly being used for renewable hydrogen(including in Albania,Algeria,Greece,India and Romania).207Fiscal and financial policies for

263、 renewable power supply,such as tax credits and financial incentives,remained prevalent.Among the countries that announced fiscal and/or financial policies related to renewable power in 2023 were Austria,Brazil,China,Egypt,Greece,Indonesia,Poland and Switzerland.208 Switzerland allocated USD682milli

264、on(CHF600million)in subsidies for small and large-scale solarPV.209Renewable portfolio standards(RPS)i continued to be a cornerstone of state-level energy policy in the United States.As of 2022,30 US states had established RPS,with 17 of the policies targeting 100%clean or renewable electricity by 2

265、050.210 Connecticut announced a goal of 48%renewable electricity by 2030,and Illinois increased its targets to 50%by 2040 and 100%by 2050.211Renewable heat supply gained growing policy attention in 2023.This ranged from supports for district heating(in Croatia,the Czech Republic,Denmark and the Unit

266、ed Kingdom)to bans on fossil fuel use for heating(in Austria,France,Germany and the US state of New York).212 Heat pumps and solar water heaters continued to attract interest,including in Kenya where it has now become mandatory to equip all residential buildings,schools,health-care institutions and

267、commercial buildings with solar water heaters.213 Ireland announced its intention to introduce a renewable heat obligation by 2024.214Policy and TargetsFIGURE 3.Renewable Energy Targets,by Country and by Sector,as of 2023Source:REN21.See endnote 201 for this module.Economy-widePowerHeating and cooli

268、ngTransportBiofuelsEconomy-widerenewableenergy share100%8%398 targets in 182 countries90170434946i A regulation that requires the increased production of energy from renewable energy sources.Module OverviewInvestment and FinanceChallenges and Opportunities26RENEWABLES 2024 GLOBAL STATUS REPORT GLOBA

269、L OVERVIEWPOLICIES IN ENERGY INFRASTRUCTUREPolicies aimed at improving the penetration of renewables in energy systems typically require long-term planning,yet they remain scarce.215 The EU has made progress on electricity market design,including a proposed two-way Contract for Differencei mechanism

270、 that aims to create a buffer between electricity markets(which are heavily dependent on global fossil fuel prices)and consumer bills.216 Energy producers receive payments if market prices fall below a certain level,and must pay back when prices exceed a certain level,ensuring revenue stability and

271、encouraging investment in renewables.217Under the 2022 EU Trans-European Network for Energy a policy aimed at connecting the energy infrastructures across EU Member States projects were selected in 2023 among 11 priority corridors and 3thematic policy areas.218 The EU also updated its rules for cros

272、s-border energy infrastructure in 2022.219 In addition,the European Commission presented a New Grid Action Plan,a comprehensive strategy to enhance the efficiency and expansion of regional electricity grids in light of rising demand for and integration of renewables in order to achieve the EU Green

273、Deal and“green”the economy.220Renewable hydrogen gained policy attention during 2023,with 41countries having in place a renewable hydrogen strategy or roadmap by years end.221 Several countries including Argentina,Estonia,India,Oman and Trkiye announced new strategies.222 Denmark launched a tender f

274、or up to 6GW of electrolysis capacity by 2030,with an emphasis on“power-to-X”.223 This entails linking the electricity sector with other sectors(such as heating,cooling,transport and industry)to increase the integration of variable renewable electricity,while also storing the surplus electricity fro

275、m other sectors(in batteries,as thermal energy or as renewable hydrogen)for later use.Among advances in hydrogen in 2023,Italy allocated EUR300million(USD328million)to develop a renewable hydrogen-based railway system,including the generation plants and hydrogen-powered trains.224 The EU launched th

276、e European Hydrogen Bank to initiate the regional market,with EUR800 million(USD875million)in subsidies for renewable hydrogen production.225 The United States issued regulations on the Clean Hydrogen Production Credit under the Inflation Reduction Act.226 The United Kingdom released details on a 15

277、-year support mechanism for low-carbon hydrogen production to make up the gap in operating costs between low-and high-carbon fuels.227 Despite rising policy attention,renewable hydrogen deployment has lagged globally due to high production costs and weak demand.228ENERGY AND CLIMATE POLICIESAs of De

278、cember 2023,151countries had in place targets for net zero emissions(psee Figure 4),covering 88%of global greenhouse gas emissions.229 In 2023,Georgia adopted its Long Term Low Emission Development Strategy 2050,which sets the stage for reaching the countrys net zero target for 2050.230 In addition,

279、20countries submitted new or updated Nationally Determined Contributions(NDCs)towards reducing emissions under the Paris Agreement,bringing the total available submissions to 168;Eritrea became a new signatory to the agreement.231 Countries are expected to submit their second NDC updates by 2025.232

280、Policy and Targetsi A type of derivative product that is used to speculate on the future direction of a market price.FIGURE 4.National Net Zero Policies and Status of Implementation and Renewable Energy Targets,2023Note:The Philippines has a 100%RE target,but no net-zero target.Source:REN21.See endn

281、ote 229 for this module.151countries withnet zero policies69countries have both a net zero and an economy-widerenewable energy target586827In lawDeclaration/pledgeAchieved(self-declared)Proposed/in discussion52In policy documentRenewableenergy iscrucial towardsachievingnet zeroemissions63Economy-wid

282、e renewableenergy targets6100%economy-widerenewableenergytargetsModule OverviewInvestment and FinanceChallenges and Opportunities27RENEWABLES 2024 GLOBAL STATUS REPORT GLOBAL OVERVIEWPolicy and TargetsDespite rising interest in decarbonisation,many G20 countries have increased their direct subsidies

283、 to fossil fuels,bringing the G20 total to a record USD1.3trillion in 2022.233 This was more than double the amount in 2019,prior to the COVID-19 pandemic and the global energy crisis.234 Globally,total fossil fuel subsidies(direct and indirect)reached USD7 trillion in 2022,with China contributing t

284、he most(USD2.2trillion)followed by the United States(USD760billion),the Russian Federation(USD420billion),India(USD350billion)and the EU(USD310billion).235 Most of these were direct subsidies,in addition to investments by state-owned enterprises and lending from public financial institutions.236 In

285、a different approach,Canada banned subsidies to the oil and gas sector starting in July 2023 in an effort to comply with the 2009 G20 commitment to phase out inefficient fossil fuel subsidies.237Carbon pricing policies continued to gain traction in 2023,in the form of either carbon taxes or emission

286、 trading systems.A total of 39 countries were implementing a carbon pricing mechanism by years end.238(p See Figure 5.)Indonesia launched the Indonesia Carbon Exchange(IDX Carbon)on its stock exchange,and Australia updated its carbon pricing mechanism to target the most polluting industries.239 The

287、United Kingdom announced that it would introduce a domestic carbon tax by 2027.240The EUs Implementing regulation for the Carbon Border Adjustment Mechanism,which entered into force in October 2023,covers cement,iron,steel,aluminium,fertilisers,electricity and hydrogen.241 The mechanism is designed

288、to counteract carbon“leakage”by imposing a cost on carbon emissions associated with imported goods,and aims to level the playing field between EU producers(which are subject to stringent climate policies)and non-EU producers(which may face less strict environmental standards).242Increasingly,policy

289、makers have recognised the role of energy efficiency in bolstering energy security,reducing costs and aiding the energy transition.243 By the end of 2023,nearly all countries were implementing efficiency standards for air conditioners,and the number of countries with standards for industrial motors

290、increased three-fold in the last decade.244 At least 16countries implemented new or updated energy efficiency policies in 2023.245Several Eastern European countries allocated large grants for energy efficiency,including Bosnia and Herzegovina(BAN 12.6 million or USD 13.7),Croatia(EUR40million or USD

291、43 for public buildings)and Estonia(EUR 80 million or USD 87 for buildings).246 Singapore and the United States announced plans to update their minimum energy performance standards.247 Trkiye issued a 2030 Energy Efficiency Strategy and Action Plan,which aims to reduce energy consumption 16%and to p

292、revent 100million tonnes of emissions by 2030.248 As noted earlier,the final text from COP28 called for doubling the rate of global energy efficiency improvements by 2030,with 130countries committing to the target.249FIGURE 5.Countries with Climate Change Policies,by Type of Measure,as of 2023Source

293、:REN21.See endnote 238 for this module.Climate pricing policy(emission trading scheme or carbon tax)Existing or planned fossil fuel ban in 1 or more sectorsNo net zero emissions targetNet zero emissions targetModule OverviewPolicy and TargetsChallenges and Opportunities28RENEWABLES 2024 GLOBAL STATU

294、S REPORT GLOBAL OVERVIEWInvestment and FinanceINVESTMENT AND FINANCE In 2023,global investment in renewable power and fuels increased 8.1%,to reach USD 622.5 billion.In 2022,the cost of capital for onshore wind in low-income countries was 6.5 percentage points higher than in high income countries.Th

295、e private sector is increasingly becoming a channel for implementing development finance projects for renewable energy.Issuance of green bonds rebounded in 2023 following a decline in 2022 related to geopolitical tensions.Estimates of the annual investment in renewable power needed by 2030 to achiev

296、e the Paris Agreement goals are in the range of USD 1,300 billion to USD 1,350 billion.Global investment in renewable power and fuels reached a new record high in 2023,of USD622.5billion.This was achieved despite high interest rates(outside of China)and challenging market conditions worldwide.The on

297、going increase in investment has resulted from alignment between climate change policy ambition,energy security goals and industrial strategies as well as actions in response to the global energy crisis and ongoing recovery from the COVID-19 pandemic.billion USD global new investment in renewable po

298、wer and fuels in 202362343%of mitigation finance was allocated to renewable energy in 2022KEY FACTSannual investment increase required from 2024 to 2030 to meet the BNEF Net Zero Scenariox2.36Module OverviewPolicy and TargetsChallenges and Opportunities29RENEWABLES 2024 GLOBAL STATUS REPORT GLOBAL O

299、VERVIEWENERGY SYSTEM INVESTMENTGlobal investment in renewable power and fuelsi increased 8.1%in 2023 to reach USD622.5billion.250(p See Renewables in Energy Supply Module.)This represented a new global high and was achieved despite high interest rates(outside of China)and challenging market conditio

300、ns worldwide.Renewable energy projects are harder to finance when interest rates are high because investors must rely more on expensive equity,potentially decreasing their return on a given project.251 Higher input costs for key raw materials including critical minerals further complicated the inves

301、tment environment.252 However,cost pressures along supply chains started to ease during the year,particularly in key regions such as China,Europe and the United States.253The increase in renewable energy investment in the last few years has been in response to the global energy crisis and the ongoin

302、g recovery from the COVID-19 pandemic,and as a result of an alignment between climate policy ambition,energy security goals and industrial strategies.254 In the developing world,costs of capital remain higher than in developed economies,impeding financing for renewable energy projects.255(pSee Figur

303、e 6.)Costs of capital tend to be higher in developing countries because of concerns about the rule of law and about currency fluctuations and convertibility,among others.256 As a consequence,public finance(including from development finance institutions)accounts for around half of the financing for

304、clean energy projects in developing and emerging economies,whereas in developed countries this share is closer one-fifth.257(p See Sidebar 2.)Investment and Financei Renewable power and fuels does not include hydropower projects larger than 50 MW.In addition,these estimates do not include investment

305、s in renewable heating and cooling technologies,for which data are not collected systematically.FIGURE 6.Weighted Average Cost of Capital for Onshore Wind Power and Solar PV,by Country Income Level,2022Note:The weighted average cost of capital(WACC)is the average rate a business pays to finance its

306、assets.It is calculated based on the cost of debt and equity.The country division is based on the World Bank country classifications by income(Fiscal Year 2024).Each income bracket includes the countries for which data are available in the IRENA database.Source:IRENA.See endnote 255 for this module.

307、0%10%4%2%8%6%12%High incomecountriesUpper middle incomecountriesLow incomecountriesLower middle incomecountriesSolar PV Onshore wind Average cost for:Capital Cost(%)Global investment in renewable power and fuels reached an all-time high in 2023 despite high interest rates and challenging market cond

308、itions worldwide.Module OverviewPolicy and TargetsChallenges and Opportunities30RENEWABLES 2024 GLOBAL STATUS REPORT GLOBAL OVERVIEW0%20%40%100%Share of Energy Generation Development Finance202220132014201520162017201820192020202160%80%Non-renewablesourcesGeneration type:Renewable sourcesInvestment

309、and FinanceSIDEBAR 2.Development Finance for Renewable Energy Countries are not delivering adequately on their development financei commitments.Under the United Nations Sustainable Development Goals(SDG 17ii),developed countries committed to allocate 0.7%of their gross national income(equivalent to

310、USD 411 billion in 2022)in funding to support less-wealthy countries.However,as of 2022 only 0.36%of GNI was being channelled into such aid,a shortfall of USD200billion.Development finance flows for renewable energy generationiii projects totalled USD7.8billion in 2022,an amount that pales in compar

311、ison to the USD576billion invested in renewables globally.This misalignment is even more alarming in the context of the high cost of capital for renewable energy projects and the need for clear roadmaps and support for the energy transition in developing economies.Even so,finance for renewable gener

312、ation projects globally has increased steadily,with disbursements more than doubling from USD 3.5 billion in 2013 to USD 7.85 billion in 2022.However,the bulk of development finance for these projects is in the form of loans or equity investment,with grants representing only 35%of total government-d

313、riven assistance and 20%of the total development finance(including other official flows and private development finance).Renewables are not the only recipient of development finance for energy generation.In 2022,more than USD 1.9 billion was disbursed for non-renewable energy projects(mainly fossil

314、fuels).Yet the share of non-renewables in total energy generation finance has declined steadily.(p See Figure 7.)This is in part because multilateral development banks have increasingly adopted policies that exclude support for fossil fuels such as coal and oil,although fossil gas remains a key aid

315、recipient.FIGURE 7.Share of Development Finance from Official and Private Donors for Renewable and Non-Renewable Energy Generation Projects,2013-2022i Development finance or“development assistance”is defined as aid that promotes and targets economic development and welfare in developing countries an

316、d flows mainly from members of the OECDs Development Assistance Committee(DAC)and from multilateral organisations into developing countries categorised as eligible based on an income threshold.See endnote 257 for this module.ii See,for example,SDG 17.2:Partnerships for the Goals.Development assistan

317、ce as a catalyst for progress.iii Development finance flows are classified into sectors with unique purpose codes.For example,energy aid is split into:energy policy,energy generation(renewable),energy generation(non-renewable),hybrid energy plants,nuclear energy plants and energy distribution.Note:“

318、Renewable sources”includes the following categories:multiple technologies,hydro-electric power plants,solar energy for centralised grids,wind energy,marine energy,geothermal energy,bofuel-fired power plants,solar energy for isolated grids and stand-alone systems and solar energy thermal applications

319、.Source:OECD-DAC Creditor Reporting System(CRS)Database.See endnote 257 for this module.Module OverviewPolicy and TargetsChallenges and Opportunities31RENEWABLES 2024 GLOBAL STATUS REPORT GLOBAL OVERVIEW02,5001,0005002,0001,500AfricaAsiaAmericasEuropeMiddle EastOceania3,000USD million(Current prices

320、)Donor type:DAC countriesMultilateralsPrivate donorsNon-DAC countriesand otherInvestment and FinanceMost development finance for renewable energy generation is provided via two key donor sources.Countries that are members of the Development Assistance Committee(DAC)i of the Organisation for Economic

321、 Cooperation and Development(OECD),as well as multilateral organisations,together accounted for 95%of development finance flows in 2022.Meanwhile,non-DAC countries and private donors contributed only 5%,mainly to Africa and Asia.Multilateral banks are the main donors for renewables in the Americas a

322、nd Europe,whereas in Africa and Asia,bilateral funding from DAC countries dominates.(p See Figure 8.)FIGURE 8.Development Finance for Renewable Energy Generation by Donor and Recipient Region,2022i DAC members are:Australia,Austria,Belgium,Canada,Denmark,the European Union,Finland,France,Germany,Gre

323、ece,Ireland,Italy,Japan,the Republic of Korea,Luxembourg,the Netherlands,New Zealand,Norway,Portugal,Spain,Sweden,Switzerland,the United Kingdom and the United States.Note:In 2022,USD 858 million was not assigned to the aforementioned regions.This amount is not reflected in the figure above.Multilat

324、erals include EU institutions,the International Monetary Fund,regional development banks,the United Nations,the World Bank and others.Source:OECD-DAC Creditor Reporting System(CRS)Database.See endnote 257 for this module.In 2022,78%of development finance for the Americas came from multilateral organ

325、isations.Module OverviewPolicy and TargetsChallenges and Opportunities32RENEWABLES 2024 GLOBAL STATUS REPORT GLOBAL OVERVIEW05,0002,0001,0004,0003,0007,000201320172022Private sector institutionsPublic sectorNon-governmental organisations and civil societyMultilateral organisationsNot reportedOther8,

326、0006,000USD Million(current prices)Implementation channel:Investment and FinanceOver the past decade,a major shift has occurred in aid implementation channels.(p See Figure 9.)Whereas in 2013 the public sector delivered more than two-thirds of development finance(67%),by 2022 this share had fallen t

327、o 50%.Meanwhile,funding directed at private sector institutions has increased rapidly,rising from near zero in 2013,to 14%in 2017 and 30%in 2022i.Multilateral organisations also increasingly lead on project implementation,with their share rising from 7.5%in 2017 to 13.8%in 2022.Private delivery of d

328、evelopment projects has become more popular mainly because it is viewed as a dynamic and agile funding vehicle,as well as a key source of income and employment.The private sector is also seen as a multiplier of development funds to mobilise further private investment.Source:See endnote 257 for this

329、module.FIGURE 9.Development Finance for Renewable Energy Generation by Channel,2013,2017 and 2022i The lack of finance flowing through private sector institutions in 2013 may be due to a shift in methodology.Note:“Other”includes the group“other”,public-private partnerships,and teaching institutions,

330、research institutes or think-tanks.Source:OECD-DAC Creditor Reporting System(CRS)Database.See endnote 257 for this module.Module OverviewPolicy and TargetsChallenges and Opportunities33RENEWABLES 2024 GLOBAL STATUS REPORT GLOBAL OVERVIEWSHIFTING FRAMEWORKS FOR INVESTMENT IN RENEWABLE ENERGYInvestors

331、 wishing to address climate change and support renewables are increasingly turning to“sustainable finance”options as they consider growing regulatory requirements,risk management imperatives,and/or changes in demand and asset allocation strategies.Three frameworks are increasingly relevant for renew

332、able energy finance and investment:1)the development of sustainable finance taxonomies at the national and regional levels to provide information on the environmental and/or social performance of enterprises and financial products;2)green bonds,the proceeds of which may go to renewable energy;and 3)

333、systems rating the performance of enterprises according to environmental,social and governance(ESG)criteria to help assess the suitability of a company,activity or fund for investment.258SUSTAINABLE FINANCE TAXONOMIESSustainable finance taxonomies provide a classification of economic activities with the aim of clarifying which investments and/or activities may be defined as sustainable or“green”.2