June 27, 2024

TSEP#180 The Energy Transition is More Than Electricity

27 minutes

The expansion of renewable energies is booming worldwide. Power capacity additions reached a new benchmark of 473 gigawatts in 2023. But energy demand is still on the rise and is not yet fully met by renewables. Furthermore, renewable energy growth is most noticeable in the power sector (electricity generation), whereas critical energy carriers such as renewable heat and renewable-based fuels remain neglected. As a result, energy-related carbon dioxide emissions rose by a further 1.1% in 2023.

What are the latest trends in energy supply? What do we need to further accelerate the energy transition in general and in the heating and transport sector in particular? And how can we finance all this, particularly in developing countries? We talk about this with Rana Adib, Executive Director of REN21.

Timeline:

02:30 The Renewables 2024 Global Status Report consists of five modules. At The smarter E Europe you have presented the third module “Energy Supply”. What are its key findings and trends?

07:20 86% of global power capacity additions last year were renewable. But electricity is only a small part of the story. Nearly half of all energy consumption is in the form of direct heat, followed by fuels with a 30% share. The progress in decarbonisation here is alarmingly limited. Why is that?

09:36 How can this be changed, especially in the building and transport sector?

13:01 The 473 GW of renewable power capacity added in 2023 was a new record. However, this is still far short of the 1,000 GW needed annually to meet global climate and sustainable development commitments. How can we accelerate the pace of the energy transition?

16:55 How can we speed up grid expansion and facilitate the financing of projects? 19:18 What is needed for a real 24/7 renewable energy supply? How can we compensate times of low renewable power production and high demand in winter or at night, for example?

Questions or suggestions? Then send us an email to [email protected]

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By The smarter E