THAT WAS EASY:

Rapid growth in solar, wind and battery deployment means that by 2030 the global electricity system can deliver ambitious net-zero pathways, according to new research by RMI done in partnership with the Bezos Earth Fund. This exponential growth in renewable electricity is unlocking widespread benefits, including security of supply and jobs growth, as well as countering energy price inflation.

Complementary research from Systems Change Lab, also published today, shows eight countries have already grown solar and wind generation faster than what's needed to limit global warming to 1.5°C, proving that a rapid transition to renewable energy is possible.

By 2030, solar and wind is forecast by RMI to supply over a third of all global electricity, up from around 12% today. Based on the forecasts, this would see solar and wind generate 12,000-14,000TWh by 2030, 3-4 times higher compared with 2022 levels. It would also surpass recent calls running up to COP28 for a tripling of total renewable energy capacity by 2030.

Meanwhile, fossil fuel demand for electricity will be in steep decline, according to the RMI analysis, down as much as 30% from the 2022 peak by 2030, as renewable electricity further outcompetes hydrocarbons on cost.

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