Renewable Energy in 2024: Trends, Technological Advancements, and Global Commitments
By Rao Naji Ullah
Senior Renewable and Technical Expert at SPERTON
In 2024, renewable energy continues to play a transformative role in the global energy landscape. As of 2023, the sector employed 16.2 million people globally, with solar photovoltaics leading at 7.1 million jobs. This marks a significant increase from previous years, indicating the growing importance of renewables. Early insights suggest a continuation of this positive trend, and the full 2024 report from IRENA will provide further details on this growth.
Technological Advancements in 2024
2024 has seen remarkable technological strides in renewable energy. Perovskite solar cells, known for their flexibility and higher efficiency, are becoming more commercially viable. Offshore wind turbines are now reaching unprecedented 20 MW capacities, while advancements in solid-state batteries are improving energy storage. Additionally, green hydrogen is scaling up with more cost-efficient projects being implemented globally. According to IRENA, scaling up electrolysis technology and increasing the efficiency of electrolysers can lead to a significant reduction in the cost of green hydrogen. By 2030, it is expected that green hydrogen could become competitive with blue hydrogen, which is produced from fossil fuels, due to falling renewable electricity prices and improved electrolyser performance.
Global Commitments and COP28 Resolutions
At COP28 in Dubai, UAE, in December 2023, world leaders made significant pledges, aiming to triple renewable energy capacity by 2030. This includes ambitious targets like the European Union’s plan to install 50 GW of offshore wind annually by 2030 and China’s target of 1,200 GW of renewable energy capacity. These commitments underscore the urgent need for coordinated global action in the renewable energy transition.
Renewable Energy and Workforce Development
As the renewable energy sector grows, there is an increasing need for skilled workers. According to IRENA’s 2024 report, addressing the skills gap through targeted training, reskilling, and upskilling programs is crucial for supporting this expansion. With a focus on inclusivity, there are ample opportunities for women, youth, and marginalized groups, ensuring that the workforce is diverse and ready to meet the sector’s needs. These efforts support the United Nations’ Sustainable Development Goals, particularly SDG 7 (Affordable and Clean Energy) and SDG 8 (Decent Work and Economic Growth).
Conclusion
Renewable energy in 2024 is not only key to combating climate change but also a major driver of economic growth. With continued technological advancements and global collaboration, the sector is on track to achieve its ambitious targets, contributing to a more sustainable and equitable future.
References:
- IRENA and ILO (2024). Renewable Energy and Jobs: Annual Review 2024. International Renewable Energy Agency, Abu Dhabi, and International Labour Organization, Geneva.
- Nature Energy (2024). Perovskite Solar Cells: Breakthroughs in Efficiency and Stability, March 2024.
- COP28 (2023). Policy Outcomes and Resolutions, United Nations Climate Change Framework.
- United Nations (2015). Sustainable Development Goals (SDGs), United Nations.
- IRENA (2024). Green Hydrogen Strategy: A Guide to Design. International Renewable Energy Agency, Abu Dhabi.
- World Economic Forum (2024). Paving the Way for a Sustainable Future with Hydrogen Energy. World Economic Forum.