Global energy investment to reach record US$3.3-trillion, IEA says

[shtferbrains]

This is from 2023
92% is dispatchable power production.

Net zero by 2050?
Only in Carney's dreams.

[chuckChuck]

Massive global growth of renewables to 2030 is set to match entire power capacity of major economies today, moving world closer to tripling goal

?With solar leading their rapid deployment, renewables are on course to meet almost half of global electricity demand by the end of this decade, new IEA report says

[url]https://www.iea.org/news/massive-global-growth-of-renewables-to-2030-is-set-to-match-entire-power-capacity-of-major-economies-today-moving-world-closer-to-tripling-goal[/url]

Due to supportive policies and favourable economics, the world’s renewable power capacity is expected to surge over the rest of this decade, with global additions on course to roughly equal the current power capacity of China, the European Union, India and the United States combined, according to a new IEA report ([url]https://www.iea.org/reports/renewables-2024[/url]) out today.
The Renewables 2024 report, the IEA’s flagship annual publication on the sector, finds that the world is set to add more than 5 500 gigawatts (GW) of new renewable energy capacity between 2024 and 2030 – almost three times the increase seen between 2017 and 2023.
According to the report, China is set to account for almost 60% of all renewable capacity installed worldwide between now and 2030, based on current market trends and today's policy settings by governments. That would make China home to almost half of the world’s total renewable power capacity by the end of this decade, up from a share of a third in 2010. While China is adding the biggest volumes of renewables, India is growing at the fastest rate among major economies.

?

[shtferbrains]

Most of the growth in China and India where they are expanding all types of power generation to meet rising demand. Primarily Coal. They need all the energy they can get from wherever they can get it.
That's a love letter sent out for activist by activist to keep the faith.
Physics doesn't allow for net zero or anything close.
The number is less than 20% renewables in the most ideal locations unless you are happy to destroy your economy like Carney plans for us.

[Grain Farmer]

Doesn't matter what other do.

[blackpowder]

I saw wind farms in the Chinese countryside in 2010. I'm sure they've built many more since. Along with every other source proportionately.

[AlbertaFarmer5]

Due to supportive policies and favourable economics,

?

a few days ago I posted a chart from the very same iea show in the massively higher costs of investment per terawatt hour of wind and solar compared to reliable energy.

Can you show me on that 10-year chart where the favorable economics start occurring?

Shouldn't the investment per terawatt hour of the two sources of energy eventually converge and then go opposite directions? Why are the trends flat?

[chuckChuck]

New capacity versus existing capacity that was in many cases already paid for!

But of course Absurd 5 wants to compare the costs from a 20-30 year old subsidized fossil generation station with new capacity investments in renewables.

I guess all those countries investing in renewables must be wrong according to A5!

[AlbertaFarmer5]

The IEA chart is 10 years. The average lifespan of a wind turbine is 25 years. Nearly half way through their lives, yet the production per $ invested isn't improving. Do you see anything wrong with this trend?