In its latest report, "The Road to Net-Zero Carbon: 2030 Solar and Energy Storage Transformation White Paper," InfoLink Consulting provides an in-depth analysis of global renewable energy trends and challenges. The white paper focuses on three major markets: China, the United States, and Europe (EU + UK), offering detailed market analysis and future outlooks to help industries grasp key insights and accelerate the journey to achieving net-zero emissions.

Under the Paris Agreement, countries committed to limiting global temperature rise to well below 2°C above pre-industrial levels, with efforts to cap it at 1.5°C. Achieving these goals requires significant reductions in greenhouse gas emissions, with the energy sector currently responsible for 35% of global emissions—the largest source.

InfoLink estimates that to meet the 1.5°C scenario by 2030, around 8.5 TW of renewable energy capacity is needed, while the 2°C scenario requires 5 TW. According to InfoLink’s latest data, global renewable energy installations are expected to exceed 10 TW by 2030, potentially fulfilling the requirements for both scenarios. However, there remains a shortfall of approximately 2.5 TW to meet the 1°C target.

In 2023, the renewable energy sector saw remarkable growth, driven by favorable policies and technological advancements, with installations of solar, wind, and energy storage hitting record highs. Despite political and financial challenges, InfoLink remains optimistic about the sector’s future.

The U.S. market has significantly benefited from the Inflation Reduction Act (IRA), which offers subsidies for solar, wind, and energy storage, dramatically lowering the Levelized Cost of Energy (LCOE) and boosting capacity growth. However, trade barriers are expected to impact supply and installation speed.

In Europe, the ongoing conflict between Russia and Ukraine has caused natural gas and electricity prices to surge since early 2022, leading to a spike in renewable energy installations in 2023. Under the National Energy and Climate Plans (NECP), European countries have set ambitious goals, with annual solar installations expected to grow steadily, reaching nearly 140 GW in new installations per year by 2030. The REPowerEU initiative’s 600 GW target is also likely to be met earlier than anticipated, between 2026 and 2027, with cumulative installations potentially exceeding 1,000 GW by 2030.

The European energy storage market is also set for significant growth. Driven by energy reform policies and subsidies, front-of-the-meter (FTM) storage is expected to outpace behind-the-meter (BTM) installations. Key markets like the UK, Italy, and Germany will continue to expand, while emerging markets such as Belgium, Greece, and Spain are poised for growth. InfoLink projects that cumulative energy storage capacity will reach 500 GWh by 2030.

While renewable energy's contribution to electricity production is expected to increase both in quantity and proportion, ongoing geopolitical instability and more frequent extreme weather events will require nations to accelerate renewable energy deployment. This will involve continued policy support and technological innovation to ensure more widespread deployment and adoption of renewable energy solutions.