Rapid advances in key clean energy technologies show the new energy economy is evolving faster than many think – News

The pace of deployment of some clean energy technologies, such as solar PV and electric vehicles, shows what can be achieved with sufficient ambition and policy measures, but achieving net zero emissions by 2050 requires rapid change in most components of the energy system. , according to the IEA’s latest assessment of global progress.

Published today is the IEA’s annual update Tracking clean energy progress The online resource has shown significant gains over the past year. Electric car sales are set to hit a record high of more than 10 million in 2022, a nearly tenfold increase in just five years. Renewable electricity capacity additions rose to 340 gigawatts (GW), their largest ever deployment. As a result, renewable electricity now accounts for 30% of global electricity generation. Investment in clean energy will reach a record US$1.6 trillion in 2022, an increase of nearly 15% from 2021, reflecting continued confidence in energy transitions despite an uncertain economic environment.

However, the transition to clean energy is occurring at different speeds across regions and sectors. For example, nearly 95% of global electric car sales in 2022 will take place in China, the US and Europe. All regions, especially emerging and developing economies, need strong international cooperation to spread progress in electric cars and other key technologies.

Clean energy deployment is happening faster in some areas of the energy system—such as power generation and passenger cars—where costs have fallen and technologies are already relatively mature. Meanwhile, rapid innovation is still needed to bring clean technologies to market for parts of the energy system where emissions are difficult to deal with, such as heavy industry and long-haul transportation. Positive steps towards innovation have been made in the past few years, but further acceleration is needed to bring low-emission technologies for these areas to market as soon as possible.

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Update of 2023 Tracking clean energy progress, available on the IEA website, tracks progress on aligning the global energy system with a path to net zero emissions by 2050. It does this by assessing more than 50 different elements, from sectors to technologies and infrastructure. The IEA today released the newly redesigned Clean Energy Technology GuideAn interactive digital database that allows users to visualize the readiness and geographic distribution of more than 500 different innovative technologies or components across the global energy system, with an accompanying Clean Energy Descriptive Project database.

„The clean energy economy is rapidly taking shape, but meeting international energy and climate targets requires more rapid progress in most areas,” said IEA Executive Director Fatih Birol. „This update Tracking clean energy progress Highlights some promising developments that underscore both the need and the potential for more action globally. The extraordinary development of key technologies such as solar and electric cars shows the potential.

While many sectors are still not fully on track for international climate goals, new analysis identifies important progress over the past year. The IEA’s scenario of achieving net zero emissions by 2050 marks the first time that announced production capacity for electric vehicle batteries has reached the level expected to meet demand in 2030. This is supported by the pace of key industrial strategies such as inflation. Reduction Act in the United States and the Green Deal Industrial Program of the European Union.

Solar PV has been upgraded „on track” as its progress now aligns with milestones consistent with net zero ambitions. Solar PV will generate a record nearly 1 300 terawatt-hours (TWh) in 2022, up 26% from 2021, and record the largest absolute generation growth of all renewable technologies in 2022. Massive growth on the back of widespread government support, particularly in China, the US and India. If all announced plans are implemented, global production capacity for solar PV will double over the next five years, exceeding 2030 demand in the IEA’s net zero 2050 scenario.

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Significant progress has been made in the buildings sector – it has been upgraded from „not on track” to „more efforts required”. Tracking clean energy progress A three tier rating system. Governments are introducing increasingly stringent building energy codes and performance standards, and the use of efficient and renewable technologies for buildings, such as heat pumps and low-emission cooling equipment, is accelerating. Energy efficiency policies have been strengthened globally over the past year, with India enacting new policies for appliances, vehicles, industrial facilities and commercial buildings.

Policy is progressing in many regions. Earlier this year, for example, Indonesia became the first country in Southeast Asia to establish a legal and regulatory framework for carbon capture, use and storage, and Namibia unveiled a hydrogen strategy by late 2022.

Many technologies have seen important advances in innovation since the IEA’s last updates. Tracking clean energy progress And Clean Energy Technology Guide. The world’s largest battery maker has announced that it will begin production of sodium-ion electric vehicle batteries, an alternative battery chemistry that could help reduce reliance on on-demand critical minerals. Two large-scale demonstrations of solid oxide electrolyzers, a highly efficient technology for producing low-emission hydrogen, went live earlier this year. Positive steps have been taken in innovative clean technologies for aluminum refining and cement production – both industries where emissions are difficult to tackle. Also, in early 2023, the first export of liquid carbon dioxide (CO2) from Belgium to geological storage under the North Sea off the coast of Denmark is a major achievement for the carbon capture industry.

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Improvements can be seen in all of the 50-plus components of the energy system assessed Tracking clean energy progressThe majority do not agree to net zero emissions by 2050. Enabling a broad and rapid transition towards clean energy requires strong policy support and greater investment in a wide range of different technologies in all regions of the world. To achieve net zero emissions by 2050.

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