Clean Energy
Charted: Progress on 2030 Renewable Energy Targets by Country
The following content is sponsored by the National Public Utilities Council
Progress on 2030 Renewable Energy Targets by Country
The International Energy Agency states that the global installed capacity of renewable energy must triple by 2030 to limit global warming to 1.5°C above pre-industrial levels.
This makes the next six years critical in the climate fight, with the upcoming United Nations COP28 event in Dubai representing a great time to assess the progress of countries toward achieving their 2030 targets.
Checking in on Progress
As set out by their Nationally Determined Contributions in the Paris Agreement, many countries, including major electricity consumers such as the U.S., European Union, China, India, and the UK, have set ambitious targets for increasing their solar and wind power generation capacities by 2030.
The data, however, suggests that many are struggling to keep pace with the required annual capacity additions that will allow them to hit these targets.
Currently, China stands out as the only nation on track to meet its 2030 target. In 2022, it not only met but significantly exceeded its required capacity additions to remain on track, adding 168% of the required 101 GW.
Let’s now take a closer look at how each of these countries are faring, comparing how much wind and solar capacity they needed to add with how much they actually did in 2022.
| Country / Region | 2030 Target | Annual Average Wind and Solar Capacity Additions Needed to Hit 2030 Target | Actual Capacity Additions in 2022 | ||||
|---|---|---|---|---|---|---|---|
| Wind | Solar | Total | Wind | Solar | Total | ||
| India | 40% zero-carbon generation by 2030 (includes nuclear) | 16 GW | 19 GW | 35 GW | 2 GW | 18 GW | 20 GW |
| China | 28% renewables by 2030 | 57 GW | 44 GW | 101 GW | 55 GW | 115 GW | 170 GW |
| United States | 739 GW of wind and solar by 2030 to reach zero-carbon electricity by 2035 | 34 GW | 35 GW | 69 GW | 11 GW | 21 GW | 32 GW |
| United Kingdom | 60% renewables by 2030 | 4 GW | 3 GW | 7 GW | 4 GW | 1 GW | 5 GW |
| European Union | REPowerEU: 42.5% renewables by 2030 | 38 GW | 48 GW | 86 GW | 16 GW | 38 GW | 54 GW |
Overall, the U.S. and India were the furthest off from their targets in 2022, adding only 46% and 57% of what was needed, respectively. European countries, on the other hand, made progress but still need substantial annual additions to meet their targets by 2030.
Playing Catch-Up: The Path to 2030
Collectively, the U.S., European Union, China, India, and the UK account for more than 60% of global electricity consumption, underscoring their profound responsibility in decarbonizing their electricity sectors.
Investments in research and development, policy support, and infrastructure development are all crucial pieces of the puzzle when it comes to achieving 2030 targets.
With swift and bold action, these nations have an opportunity to transform the global energy landscape and move the needle toward achieving net-zero on a global scale.
Learn more about how electric utilities and the power sector can lead on the path toward decarbonization here.
Clean Energy
Which U.S. Utilities Are Investing in Clean Energy the Most?
In this graphic, we show which U.S investor-owned utilities have allocated the most capital expenditure toward clean energy.
Which U.S. Utilities Are Investing in Clean Energy the Most?
Decarbonizing the power sector will require significant investments in clean energy as utilities replace existing fossil fuel infrastructure.
In this graphic, we show which U.S investor-owned utilities (IOUs) have allocated the most capital expenditure (CAPEX) toward carbon-free sources of electricity.
The data comes from the latest edition of the Annual Utility Decarbonization Index, created in partnership with the National Public Utilities Council, which quantifies and compares the status of decarbonization among the largest U.S. IOUs.
The Carbon-Free Investment Ranking
The Utility Decarbonization Index ranks companies on six metrics based on the latest available data, specifically those that pertain to their fuel mix, carbon emissions, and decarbonization goals.
The sixth and final metric measures the share of each utility’s planned CAPEX for carbon-free electricity generation, such as nuclear power and renewables.
Here are the top scorers out of the 47 IOUs included in the report.
| Rank | Company | Share of Planned Generation CAPEX Allocated To Nuclear & Renewables |
|---|---|---|
| #1 | NextEra Energy | 100% |
| #2 | Public Service Enterprise Group | 100% |
| #3 | Avangrid | 100% |
| #4 | Pacific Gas and Electric* | 96% |
| #5 | Alliant Energy | 94% |
| #6 | National Grid | 93% |
| #7 | AES Corporation | 92% |
| #8 | Constellation Energy | 90% |
| #9 | WEC Energy | 90% |
| #10 | Emera | 86% |
| #11 | Dominion Energy* | 84% |
| #12 | American Electric Power | 83% |
| #13 | TransAlta | 81% |
| #14 | MGE Energy | 78% |
| #15 | Duke Energy | 68% |
| #16 | Evergy | 68% |
| #17 | DTE Energy Company | 67% |
| #18 | Fortis Inc. | 67% |
| #19 | Consumers Energy | 66% |
| #20 | Southern Company | 63% |
*Planned CAPEX unreported, shows 2022 realized CAPEX
Avangrid climbed to first place in 2022, tying with NextEra and PSEG, who both maintained their 100% carbon-free investment plans from 2021. This marks an improvement from Avangrid’s 98% the year prior.
Meanwhile, National Grid pulled off the most significant percentage increase, from 3% to 93% from 2021 to 2022.
Overall, carbon-free investment is up 3 percentage points year-over-year from 63% to 66% for the top 47 IOUs.
Which Utilities Are Included in the Decarbonization Index?
The IOUs ranked in this year’s Utility Decarbonization Index are the 47 largest in the U.S. by their 2022 net owned and purchased electricity generations.
U.S. IOUs that had fewer than 2 million megawatt-hours (MWh) of owned generation were excluded from the report.
The 47 IOUs featured in the Index accounted for over two-thirds of the nation’s electricity generation in 2022. As a result, these utilities’ decarbonization efforts will significantly impact the 33% of U.S. emissions that come from the power sector.
Download the 2024 Annual Utility Decarbonization Report
In addition to the Decarbonization Index, there’s much more to explore in the 2024 report, including:
- Inflation Reduction Act impacts
- Market trends
- Year-to-year progressions
- Fuel mix rankings for the largest public utilities
- Gas utility emissions rankings
Are you interested in seeing the rest of the rankings? Download the 2024 NPUC Annual Utility Decarbonization Report now.
Clean Energy
Visualized: Renewable Energy Capacity Through Time (2000–2023)
This streamgraph shows the growth in renewable energy capacity by country and region since 2000.
Visualized: Renewable Energy Capacity Through Time (2000–2023)
Global renewable energy capacity has grown by 415% since 2000, or a compound annual growth rate (CAGR) of 7.4%.
However, many large and wealthy regions, including the United States and Europe, maintain a lower average annual renewable capacity growth.
This chart, created in partnership with the National Public Utilities Council, shows how each world region has contributed to the growth in renewable energy capacity since 2000, using the latest data release from the International Renewable Energy Agency (IRENA).
Renewable Energy Trends in Developed Economies
Between 2000 and 2023, global renewable capacity increased from 0.8 to 3.9 TW. This was led by China, which added 1.4 TW, more than Africa, Europe, and North America combined. Renewable energy here includes solar, wind, hydro (excluding pumped storage), bioenergy, geothermal, and marine energy.
During this period, capacity growth in the U.S. has been slightly faster than what’s been seen in Europe, but much slower than in China. However, U.S. renewable growth is expected to accelerate due to the recent implementation of the Inflation Reduction Act.
Overall, Asia has shown the greatest regional growth, with China being the standout country in the continent.
| Region | 2000–2023 Growth | 10-Year Growth (2013–2023) | 1-Year Growth (2022–2023) |
|---|---|---|---|
| Europe | 313% | 88% | 10% |
| China | 1,817% | 304% | 26% |
| United States | 322% | 126% | 9% |
| Canada | 57% | 25% | 2% |
It’s worth noting that Canada has fared significantly worse than the rest of the developed world since 2000 when it comes to renewable capacity additions. Between 2000 and 2023, the country’s renewable capacity grew only by 57%.
Trends in Developing Economies
Africa’s renewable capacity has grown by 184% since 2000 with a CAGR of 4%.
India is now the most populous country on the planet, and its renewable capacity is also rapidly growing. From 2000–2023, it grew by 604%, or a CAGR of 8%.
It is worth remembering that energy capacity is not always equivalent to power generation. This is especially the case for intermittent sources of energy, such as solar and wind, which depend on natural phenomena.
Despite the widespread growth of renewable energy worldwide, IRENA emphasizes that global renewable generation capacity must triple from its 2023 levels by 2030 to meet the ambitious targets set by the Paris Agreement.
Learn how the National Public Utilities Council is working toward the future of sustainable electricity.
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