The renewable energy industry has experienced impressive growth over the last decade. In fact, in 2022, renewable energy deployments grew by double digits worldwide[1] - yet only 14 percent of all energy use comes from renewable sources[2].
It is estimated that renewable energy will make up 77 percent of the world’s primary energy supply by 2050[3]. To achieve this, renewable energy use must triple the 2022 levels by 2030, amounting to an annual addition of 1,200 gigawatts[4].
Turning the tide in scaling renewables
Addressing the barriers and opportunities to accelerate the global energy transition.
Bridging the renewable energy gap
So how can the global renewable energy industry bridge this gap and deliver the desired speed and scale of growth by 2050?
As it stands, renewable energy developers, investors, utilities, and other stakeholders are facing too many barriers to reach this level of growth. Over 84 percent of industry executives reported substantial delays and, in some cases, even project abandonment due to market challenges[5].
The solution is not one-size-fits-all. To accelerate the application of renewable energy, the industry must face, and overcome, its obstacles.
Report: Turning the tide in scaling renewables
In the report Turning the tide in scaling renewables, KPMG and renewable energy specialists address this issue. They identify 10 key barriers hindering renewable energy scaling, and provide innovative recommendations for dealing with them.
The report offers real-world examples of organisations succeeding at overcoming these obstacles. It also provides insight into increased renewable energy investment opportunities and the importance of collaboration and partnership in delivering successful renewable energy projects.
Download the report to read more.
Turning the tide in scaling renewables
Addressing the barriers and opportunities to accelerate the global energy transition.
Turning the tide in scaling renewables: Executive Summary
Addressing the barriers and opportunities to accelerate the global energy transition
Contact us
Mathew Herring
Partner in Charge, R&D Incentives and Grants | Co-Lead, Renewables & Cleantech
KPMG Australia
- Item 1
- Item 2
- Item 3
- 4
Related services and industries
Related insights
Footnotes
1. Energy Institute in partnership with KPMG and Kearney. 2023 Statistical Review of World Energy, 2023
2. Ibid.
3. International Renewable Energy Agency. World Energy Transitions Outlook 2023, 2023
4. International Energy Agency. Renewable Energy Market Update: Outlook for 2023 and 2024, 2023.
5. KPMG International. Turning the tide in scaling renewables, 2023.