Recording of Tuesday, June 18, 2024 | The smarter E Europe | Conference Program | Language: English | Duration: 10:23 .

Global Renewables Alliance CEO Bruce Douglas Highlights Need for Accelerated Renewable Energy Deployment and Massive Financing to Meet COP28 Commitments by 2030

Bruce Douglas, CEO of the Global Renewables Alliance (GRA), highlights the organization's mission to triple global renewable energy capacity by 2030. The GRA supports a broad spectrum of renewable sources including solar, wind, geothermal, and hydropower. Emphasizing the necessity for long-duration energy storage and green hydrogen to meet their goals, Bruce discusses past achievements such as securing commitments at COP28. The target involves installing around 7,000 gigawatts in seven years or roughly three gigawatts per day. The GRA’s agenda includes urgent reforms in permitting processes, grid infrastructure development, supply chain management, financing solutions amounting to $10 trillion cumulative investment by 2030 ($1.5 trillion annually), and workforce skill enhancements. While there has been record-breaking growth in renewables deployment globally—evidenced by new investments outpacing fossil fuels—fossil fuel subsidies persistently drain resources needed for renewable expansion. Douglas stresses significant regional disparities: some areas like sub-Saharan Africa need up to twelve-fold increases in renewable installations. Despite positive trends such as declining costs leading to higher capacity installations with equal investments and exponential growth highlighted by recent reports from RMI on solar EVs and battery technology advancements—the transition away from fossil fuels remains insufficiently addressed.

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Speaker

Bruce Douglas
CEO
Global Renewables Alliance
Belgium

Talk of session: Global & European Decarbonization Strategies: Challenges & Solutions on Solar's Path to Become the World's Major Power Source

As solar energy continues its strong global growth trajectory, exceeding all expectations, more and more obstacles are appearing on the long way towards completing the energy transition. The question is: what is needed to unleash solar's full potential in Europe and globally, and what can realistically be achieved? This session will discuss:

• Global Market Outlook for Solar Power 2024–2028 (report launch)
• Solar power's role in European and global decarbonization strategies
• Solutions for unlocking the vast potential of solar

Further Talks of this session:

Introduction & Global Market Outlook for Solar Power 2024-2028

Speaker

Michael Schmela
Executive Advisor
SolarPower Europe
Belgium

To Talk

Quantifying the Flexibility Needs of Solar and Its Impacts on European Market Growth Until 2040

Speaker

Dr. Juan Rivier
Head of Global Regulation
Iberdrola
Spain

To Talk

The Bright Path to Zero: Solar Energy's Impact on Europe's Carbon Footprint

Speaker

Vegard Vollset
VP- Head of EMEA Renewable
Rystad Energy
Norway

To Talk

Panel Discussion: How to Overcome Challenges to Tap Solar's Full Potential?

Speaker

To Talk