News - November 16, 2024
Written by Solar Impulse Foundation
Despite strides in renewable energy, global progress on energy efficiency lags behind the levels needed to meet critical climate targets.
In 2023, energy intensity progress was projected at 1.3%, making it a notably below-average year for energy efficiency gains—significantly lower than the 1.9% average in the 2010s and the 2% achieved in 2022. While some progress has been made, more decisive action is required in the next five years to meet the Paris Agreement’s objectives. In 2022 and 2023, the improvement in energy intensity was approximately 2%, while the target annual rate should exceed 4% to meet the 2030 goal. On the renewable energy front, 2023 saw the installed capacity reach 3,865 GW, with 473 GW added to the grid. However, this still falls short of the 11.2 TW target for 2030.
At COP28 in Dubai, the outcome of the First Global Stocktake called for global efforts to triple renewable energy capacity and double the annual rate of energy efficiency improvements by 2030. The Double Down, Triple Up campaign seeks to mobilise global commitment to both doubling energy efficiency and tripling renewable energy capacity by 2030, key steps to achieving climate goals. Meeting the 2030 targets will require bold action at all levels—individual, corporate, and governmental.
Achieving our dual targets of tripling renewable energy capacity and doubling energy efficiency by 2030 will enable the phase out of fossil fuels and deliver 80% of the emissions reductions necessary to limit global warming to 1.5°C. This goal is vital for securing a sustainable, inclusive, and economically resilient future, particularly for emerging markets and developing economies.
Bruce Douglas, Chief Executive Officer of the Global Renewables Alliance
Today's energy system is burdened by inefficiencies, largely due to ageing and stranded assets from the 20th century. This results in a staggering $4.6 trillion lost each year—almost 5% of global GDP and 40% of our energy spending —wasted due to fossil fuel inefficiencies. It’s a clear signal that change is needed.
Every sector, from energy to transportation, holds immense untapped potential for efficiency improvements, offering the most immediate and impactful opportunities for change. Now is the time for a collective push to prioritise smarter energy use, minimise waste, and accelerate the transition to a low-carbon economy.
Bertrand Piccard, Initiator and Chairman of the Solar Impulse Foundation
Fossil technologies are the primary cause of energy waste, accounting for over 75% of energy losses across production, transportation, and use. This highlights the importance of investing in renewable energy sources, helping minimise these losses and reduce the carbon footprint associated with this energy production. Given that fossil fuel inefficiencies are a leading cause of wasted energy and emissions, transitioning to renewables becomes not only beneficial but necessary.
Consider the following examples. Internal combustion engines (ICE) in conventional vehicles operate at around 30% efficiency, while electric motors in EVs achieve over 80%, making EVs far more efficient by avoiding two-thirds of the typical energy loss. Similarly, heat pumps achieve an efficiency of 200-500%, generating 2-5 kWh of heat from 1 kWh of electricity, while traditional heating systems convert fuel to heat at 80-95%, incurring thermal losses.
These are just a few examples of energy efficiency solutions that deserve greater visibility. To highlight such solutions, the Solar Impulse Foundation teamed up with the Global Renewables Alliance to present 20 Solutions in Action, showcasing 10 stories of Efficient Energy and 10 of Renewable Energy from across the world. From water-smart irrigation systems in Peru to a biomethanisation facility in Turkey, these solutions represent diverse yet scalable pathways to reducing energy waste and maximising renewables worldwide. SIF’s emphasis on efficiency and GRA’s commitment to renewables provide two powerful, complementary approaches that together can propel us toward a sustainable and resilient global economy.
The « Double Down, Triple Up - 20 Solutions in Action » demonstrates that impactful change is not only possible but already underway. We call on global leaders, innovators, and policymakers to draw inspiration from these successes and scale their impact. Now is the time to invest, act, and build on these solutions to drive unprecedented progress in energy efficiency and renewable energy adoption. Together, we can build a resilient, low-carbon future for generations to come. The moment to act is now.
Discover “Double Down, Triple UP - 20 Solutions in Action”
Written by Solar Impulse Foundation on November 16, 2024