Renewable Energy

G20 aims to triple renewable energy capacity; no mention of fossil-fuel phase-out

Riddhi Mukherjee

Notable because

Declaration encourages G20 countries to triple their installed RE capacity by 2030. In India’s case, this would mean that its 178.4 GW installed RE capacity (as of August 2023) will grow to surpass the existing target of 500 GW by 2030. If this increase is dominated by variable RE, it may require significant deployment of energy storage solutions beyond the levels currently anticipated.

What to look out for in the months ahead

How will existing issues such as land acquisition, adequate financing, responsible deployment, and grid infrastructure, among others, be tackled?

Will tripling their installed RE capacity by G20 countries also give a push to transnational grid interconnections such as the One Sun, One World, One Grid (OSOWOG) initiative?