Data analytics driving net zero tracker for renewable energy

Abstract

This research aims to assess the impact of renewable energy policies, investments, and emissions reductions toward achieving net-zero targets by 2050. We analysed key metrics using the Net Zero Tracker (NZT), including renewable energy capacity, policy strength, financial investment, and carbon emissions across multiple regions and industries. Our methodology involved data collection from 2020 to 2050, utilising predictive modelling to project trends in renewable energy adoption and emissions reduction. Key findings show that renewable energy capacity is expected to surpass 1,000 GW by 2050, with an exponential increase around 2045. Policy Strength Index (PSI) will grow by 20%, from 50 in 2020 to 60 in 2050, while investments in renewable energy will rise from $10 billion to $25 billion over the same period. Emissions are projected to steadily decrease to zero by 2050, which aligns with net-zero goals. The margin of error in the projections is ±5%, considering potential policy implementation and technology development variations. These results underscore the critical role of enhanced policies, sustained investments, and international cooperation in accelerating the global transition to renewable energy. The research offers valuable insights for policymakers and stakeholders to guide future strategies for achieving a sustainable energy future.