Preface

Foreword

The transition to renewable energy in buildings, industry, transport, and agriculture is falling dangerously behind, with a mere 12.7% of energy in these sectors coming from renewables. Despite the urgent need for targeted policies, progress is notably slow: by 2023, only 13 countries had comprehensive renewable energy policies across all key sectors.

This report, the second module in REN21'sRenewables 2024 Global Status Report (GSR) collection, sounds the alarm on the disconnect between energy supply and demand that is currently derailing the energy transition. The message is clear: accelerating renewables adoption in critical sectors like buildings, industry, transport, and agriculture is essential for emissions reduction and economic prosperity. Without significant demand-side advancements, a shift to a renewable-based energy system and economy remains out of reach.

Post-pandemic recovery efforts, such as the U.S. Inflation Reduction Act and the EU's REPowerEU plan, have spurred renewable investments, but momentum is waning. Only 17 of the 69 countries with demand-side policies have set or renewed renewable energy targets for these sectors beyond 2024, and there are worrying indications that governments may be tempted to water down measures in the face of economic and political pressure. Meanwhile, fossil fuels continue to receive subsidies, totalling USD 7 trillion in 2022.

At COP28, a landmark commitment was made to triple renewable energy capacity and double energy efficiency by 2030. Achieving this target requires immediate and comprehensive action to electrify operations across all sectors and feed them with renewable power. Governments must lead by implementing ambitious policies to mandate renewables, developing the necessary infrastructure, and promoting energy efficiency. Supporting renewable heat and fuels, expected to meet around 50% of energy demand by 2050, is also crucial. Embracing renewable solutions is not just necessary; it is essential for a decarbonised, resilient and prosperous global energy system.

This crowd-sourced and peer-reviewed report, crafted by hundreds of dedicated contributors, offers evidence-based knowledge and data to propel a swift transition to renewable energy. The REN21 team, authors, special advisors and contributors have poured their expertise and passion into this publication. I am confident this report will be an invaluable resource for policymakers, industry leaders and stakeholders, guiding their decisions and driving the global shift towards a sustainable energy future for all.

Sincerely,

Rana Adib
Executive Director, REN21