Power Up Progress: The Role of 24/7 Carbon-Free Energy in Achieving SDG7 and Enabling a Just Energy Transition

As world leaders gather for the United Nations General Assembly (UNGA) in New York, the global energy community is faced with the ever-evolving challenge of addressing energy poverty while combating the impacts of climate change. At the heart of this challenge lies Sustainable Development Goal 7 (SDG7), which aims to ensure access to affordable, reliable, sustainable and modern energy for all by 2030.?

However, as we enter the final stretch toward this deadline, the world is not on track to meet these targets. In fact, the number of people without access to electricity increased for the first time in over a decade in 2022.??

The solution? Ensuring that technological advances are able to provide reliable and modern energy to meet demand. For example, the adoption of 24/7 carbon-free energy technologies and solutions, which ensure every kilowatt-hour of electricity consumption is met with carbon-free electricity sources, can act as the catalyst for a just energy transition, providing businesses and communities with safe, clean and diverse energy sources.

The SDG7 Landscape: Progress and Barriers

Progress toward SDG7 has been mixed. While there have been significant advancements in expanding electricity access and integrating renewable energy sources, nearly 685 million people, primarily in Sub-Saharan Africa, still lack basic electricity access. Even where electricity is available, it often relies on fossil fuels, exacerbating the impacts of climate change on people and the planet.

One of the major barriers to clean energy adoption is the intermittency of renewable sources like solar and wind. These sources are not always available when demand peaks, often leading to reliance on backup power from fossil fuels, undermining regional and global efforts to reduce carbon emissions.?

This issue is particularly acute in the Global South, where energy infrastructure is often less developed, and the financial resources for investment in modern, flexible grid systems are limited. The result: a vicious cycle where lack of reliable, clean energy hinders economic development and increases poverty.

24/7 Carbon-Free Energy: Transforming Clean Energy Access in the Global South

To break this cycle, we must shift our focus to creating 24/7 carbon-free energy systems: combining carbon-free energy solutions with storage, smart grid technology, unified and granular reporting methods and other innovations to provide continuous, reliable, and carbon-free electricity. By ensuring that clean energy is available at all times, 24/7 carbon-free energy addresses the intermittency challenge and reduces the need for fossil fuel backup, enabling a full and fairer transition to sustainable energy for all.?

For the Global South, this approach offers transformative potential. Many countries in this region have abundant renewable energy resources, particularly solar, wind and geothermal. By investing in the technologies and infrastructure needed to harness these resources every day at every hour, these nations can avoid the carbon-intensive development pathways followed by the Global North.?

Similarly, as the costs of renewable energy and storage continue to fall, 24/7 carbon-free energy is becoming increasingly affordable, making it a viable option for even the most resource-constrained countries. For example, the cost of electricity from solar power fell by 85% between 2010 and 2020 and the costs of onshore and offshore wind energy fell by 56% and 48% respectively. Although solar and wind power costs remained higher in 2022 and 2023 compared to pre-pandemic levels due to general elevated commodity and freight prices, their competitiveness actually improved due to much sharper increases in gas and coal prices.

Shared Learnings and Barriers to Overcome

However, realizing the full potential of 24/7 carbon-free energy will require overcoming several key barriers. First and foremost is financing. While the costs of renewable energy technologies have decreased dramatically, the upfront investment required for 24/7 systems remains a significant hurdle. This is particularly challenging in the Global South, where access to capital is often limited and the perceived risks of investing in new technologies are higher.

To address this, international financial institutions, development banks and private investors must play a critical role in mobilizing the necessary resources. Blended finance, which combines public and private capital, can help de-risk investments in 24/7 carbon-free energy, making it more attractive to investors and partners. Additionally, innovative financing mechanisms like pay-as-you-go systems can help make clean energy more accessible to low-income communities.

Another barrier is the need for technical capacity and expertise. Building and maintaining 24/7 carbon-free energy systems requires advanced skills in grid management, energy storage, reporting and granularity. To overcome this, governments and businesses must invest in education and training programmes that equip workers with the necessary skills. International cooperation and knowledge sharing will also be crucial in ensuring that best practices and lessons learned from early adopters are disseminated widely.

Power Up Progress at UNGA and Beyond?

As we gather at UNGA and collectively look ahead, it is clear that achieving SDG7 and a just energy transition will require bold action and innovative thinking. Governments must prioritize the development of policies and regulations that support 24/7 carbon-free energy, including grid modernization, renewable energy incentives and carbon pricing. At the same time, businesses must continue to innovate, developing new technologies and business models that make 24/7 carbon-free energy more affordable and accessible for all sectors and regions.

A clean energy transition offers an unparalleled opportunity to build a sustainable energy system that can drive economic growth, improve quality of life and contribute to global climate goals. But time is running out. The window to achieve SDG7 is rapidly closing, and the decisions we make today will determine whether we succeed in creating a just and sustainable energy future for all.

The 24/7 Carbon-Free Energy Compact provides a critical platform to galvanize global action on this issue, bringing together diverse organizations, businesses, governments, NGOs and stakeholders that are united by a bold vision: a future where everyone, everywhere has access to carbon-free energy, every day.?

Let us seize this moment together and get back on track for SDG7.

Find out how you can join the movement here.?