As published in its first annual Breakthrough Agenda report, the International Energy Agency found that global electric vehicle sales rose to a record 6.6 million, while global renewable energy deployment is expected to exceed 300 gigawatts for the first time in 2022.
In the UK, data from the International Energy Agency underpins recent trends in electric vehicles in the transport sector. In fact, electric vehicle sales accounted for one in seven new car registrations in August, according to the latest data from New Automotive.
While internal combustion engine registrations remained stable in August, the electric vehicle market continued to grow, accounting for 14.48% of the market, with 8,926 electric vehicles registered in August, an increase of more than 2,000 from the corresponding August in 2021, the data showed.
This growth is expected to continue over the next few years, with Centrica’s Hive showing 54% of UK drivers plan to switch to electric vehicles in the next five years ahead of the Internal Combustion Engine production ban in 2030.
The report, aimed at coordinating actions across countries and coordinating investment in low-carbon technologies, found several factors played a role in increasing this number. According to the International Energy Agency, sustainable policies have been a key pillar in driving the increased use of electric vehicles.
Additionally, many automakers have plans for fleet electrification that go beyond political goals. In addition, five times as many new electric vehicle models were offered in 2021 as in 2015, increasing consumer appeal. According to the International Energy Agency, the number of electric vehicle models available on the market is around 450.
“We are in the midst of the first truly global energy crisis, with devastating knock-on consequences across the world economy, especially in developing countries. Only by speeding up the transition to clean sustainable energy can we achieve lasting energy security,’’ said Fatih Birol, executive director of the International Energy Agency.
“Through international collaboration, we can make the transition quicker, cheaper and easier for everyone – on the back of faster innovation, greater economies of scale, bigger incentives to invest, level playing fields and benefits that are shared across all parts of society. Without this collaboration, the transition to net zero emissions will be much more challenging and could be delayed by decades.”
In addition to positive results in electric vehicle deployment, global renewable energy capacity expansion will reach 300 gigawatts by the end of the year. The UK is particularly focused on and investing heavily in renewable energy pipelines to achieve energy independence and free the country from its dependence on fossil fuels.
The project pipeline for onshore wind, a renewable energy source, has grown by more than 4GW in the past 12 months, according to RenewableUK.
The Onshore Wind EnergyPulse report details the UK’s pipeline of onshore wind projects has grown from 33GW in October 2021 to 37GW today. This added 4 gigawatts, indicating the growing popularity of renewable power generation.
Like renewable power generation projects, the industry has gained momentum in recent years as the country achieves net-zero emissions by 2050. This growing sector is also supported by UK retail investors, with seven in 10 investors in favour of increased investment in UK renewables, with more than two-thirds of them in a survey by Thrive Renewables and Triodos Bank support for solar photovoltaic power generation.
Of these 1,000 companies, 65% support solar PV investments, and 78% have invested more than 10 years ago. Likewise, support for onshore wind stands at 62% and 72%, respectively.
Not only investors and the energy industry support the production of renewable energy, but the public as well. Survation has conducted a poll and found that the British public overwhelmingly supports the construction of new wind and solar farms to tackle the ongoing costs of the energy crisis.
The figures show 77% of Britons think the government should use new wind and solar farms to cut electricity bills, and 76% also support renewable energy projects in their area.
For electric vehicles, the International Energy Agency recommends that world leaders agree on a common definition and target date by which all new road vehicles will achieve net-zero emissions. The group recommends a target of 2035 for cars and vans and the 2040s for heavy-duty vehicles.
In the energy sector, the report calls on leaders to demonstrate and test flexible, low-carbon energy systems to expand the range of solutions and increase the share of variable renewables.
Investing in the renewable energy sector is critical to achieving net-zero emissions globally and in the UK. With this in mind, the International Energy Agency is calling on the world to mobilize investment in charging infrastructure, including prioritizing support for developing countries, and harmonizing international charging standards to drive investment and accelerate global adoption.
“This report highlights the need to ensure affordable access to clean and green sources of energy for all,” said Dr Mahmoud Mohieldin, UN Climate Change High-Level Champion for Egypt.
“This is also a strong reminder on the need for a focus on implementation, which must be the priority at the national, regional and local level, in order to have the necessary impact globally as well as the need for mobilisation of appropriate finance.”
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