Renewable Energy in Numbers: Are We on Track For 2050?

The clock is ticking on our planet’s future. As climate change accelerates, the global community faces a critical deadline: by 2030, emissions must be cut by 43% to keep global warming within 1.5°C above pre-industrial levels, according to the 2023 United Nations Climate Change Conference.

Advancements in renewable energy technology are crucial to success, and from 2019 to today, the number of patents filed for technologies like wind, solar, and biofuels has surged. This innovation is key to achieving the full decarbonization of our energy systems by 2050, as emphasized by the International Renewable Energy Agency (IRENA).

Today, Techopedia examines the rise in renewable energy patents over the past five years, highlighting how these technological innovations may push the needle to a carbon-free energy future by 2050.

We explore the key technologies behind this growth and discuss their important role in meeting the long-term goals needed to tackle climate change.

Table of Contents Table of Contents

1. Key Takeaways
2. Renewable Energy Technology: Laying the Groundwork for 2050
3. The State of Renewable Energy
4. The Bottom Line
5. References

Show Full Guide

Table of Contents

1. Key Takeaways
2. Renewable Energy Technology: Laying the Groundwork for 2050
3. The State of Renewable Energy
Show Full Guide
4. The Bottom Line
5. References

Renewable Energy Technology: Laying the Groundwork for 2050

While immediate actions are needed to meet the 2030 climate goals, innovations in renewable energy technology are crucial for fully decarbonizing the energy system by 2050.

According to IRENA, the number of patents filed for technologies like wind, solar photovoltaic, and biofuels increased markedly from 2019 to 2023 (from around 924,000 patents to around 1.3 million patents).

The increase in patents signals progress in making renewable technologies more efficient and scalable, which will be vital as the world works towards the broader decarbonization goals set for 2050.

In particular, hydropower made great progress between 2019 and 2023 (+64% increase in patents filed for hydropower technologies), with geothermal energy following right after at +55%.

Meanwhile, solar photovoltaic technology, one of the most scalable options, saw a 37% rise in patents during this period, followed by wind energy patents at +35%.

The State of Renewable Energy

In 2023, the renewable energy sector made significant progress, adding 473 GW of new capacity worldwide. Solar energy was the main contributor to this growth, remaining the top source in the renewable energy sector.

However, it’s important to note that we are still behind on the 2030 goals. According to IRENA, the target is to triple renewable power capacity by 2030, but the world is far from reaching this goal. An additional 7.2 terawatts (TW) of renewable power needs to be added to hit the required 11 TW by 2030.

While catching up to these short-term goals is crucial, reaching the long-term goal of full decarbonization by 2050 will take more than just adding capacity. According to IRENA, innovations in renewable technologies, as seen in the rise in patents, are essential for developing the advanced solutions needed to keep this transition going over the next thirty years.

Policymakers need to focus not only on immediate deployment but also on supporting ongoing innovation.

The Bottom Line

The race against time to curb climate change hinges on two critical deadlines: 2030 and 2050.

The surge in renewable energy patents is driving us toward a sustainable future, but with only seven years left to hit the 2030 targets, can innovation keep pace to avoid climate catastrophe and set the stage for full decarbonization by 2050?