First stop Blue text = a clickable link. To highlight pictures please click themMy post this week is provoked by the title of a story dated 15 February that I received by email in The Guardian's Down to Earth service. Here it is: 'The case for cautious optimism about the world’s clean energy capacity.' The story was written by Adam Morton, Guardian Australia's climate and environment editor. Morton opens his story with two statements – and I've itemised them.
Real chanceI thought that I should go and see what the International Energy Agency (IEA), had to say after the Dubai agreement. The IEA is an organisation which 'works with governments and industry to shape a secure and sustainable energy future for all.' ln its news release 11 January this year it stated: 'The world’s capacity to generate renewable electricity is expanding faster than at any time in the last three decades, giving it a real chance of achieving the goal of tripling global capacity by 2030, that governments set at the COP28 climate change conference last month, the IEA says in a new report. 'The amount of renewable energy capacity added to energy systems around the world grew by 50% in 2023, reaching almost 510 gigawatts (GW), with solar PV accounting for three-quarters of additions worldwide, according to Renewables 2023, the latest edition of the IEA’s annual market report on the sector. The largest growth took place in China, which commissioned as much solar PV in 2023 as the entire world did in 2022, while China’s wind power additions rose by 66% year-on-year. The increases in renewable energy capacity in Europe, the United States and Brazil also hit all-time highs.' Encouraging butThe 50% growth world wide in enegy capacity is surely sustantial progress. But Chima is a problem. While it's adding wind power, it is also increasing coal mining and coal fired power stations. As Adam Morton says: 'If that continues it can go one of two ways: jeopardise the promised 1.5C-aligned power sector transition or create a huge swathe of stranded assets sitting across the landscape without a purpose. Or perhaps both.' CostAnd what about the cost! Think tank Climate Analytics' new report' finds $8 trillion of investment is needed for new renewables and $4 trillion for grid and storage infrastructure to deliver the 2030 tripling goal agreed at COP28 – or combined, $2 trillion a year on average.' Can we do it?
John McInnes Friday 23 February 2024 ##########
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