01 December 2023
01 December 2023
The world is on track to more than double its renewable energy capacity by 2030, reports climate think tank Ember.
The lithium ion (Li-ion) batteries market is set to reach $400bn by 2035, while gas-fired power plants close down.
COP28 President Sultan Al Jaber hails the agreement as "historic", as it is the first time a decision has been adopted on day one of any COP.
The wind farm is expected to begin operations in the early 2030s.
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The push for a transition to cleaner energy, driven by strong policies and financial support, will heavily impact the future of renewables, allowing them to take almost 50% of the power mix by 2035. From a regional perspective, Europe and North America will continue to have an accelerated shift into clean technologies, whereas progress is slower in Asia-Pacific and specially Middle East where thermal technologies will still be their main power source. The development of new technologies such as hydrogen, energy storage, carbon capture and smart grids, are also driving change in the power sector.
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