To achieve net zero electricity sectors in G7 nations, wind and solar must reach 42% of G7 electricity generation by 2030, according to analysis by Ember.
The thinktank stated that ramping up wind and solar is critical for zero-carbon electricity 2035.
Ember analysis shows that planned investments in unabated fossil fuel energy projects would be higher than the cost of expanding wind and solar to meet all of Europe’s clean power needs by 2035.
Ember senior programme lead Dave Jones said: “A predominantly decarbonised power sector by 2035 is an ambitious and necessary goal for the G7.”
Ember analysis found that evidence “points to wind and solar leading the transition, supported by a range of low-emission technologies”.
The organisation has produced the analysis ahead of the G7 Summit in late June and also looked at where G7 countries stand on transitioning to more renewables.
France, Germany, Italy are all aiming to generate 63% of their electricity from renewables by 2030.
This is up from 55% under previous commitments and “has not faltered in recent weeks”, said Ember.
This “significant ambition hike” puts the EU right on track to hit a net zero electricity system by 2035, which Ember analysis shows can be met “at no extra cost” above stated plans and “without compromising security of supply”.
The UK is “leading the charge” to clean energy, with a plan to generate 95% of its electricity from low carbon sources by 2030.
This includes plans to expand offshore wind to 50GW by 2030 and increase solar capacity by up to five times by 2035.
This puts the UK in a “great position” to meet the Clean Power 2035 ambition.
Japan sources 25% of its electricity from renewables, with a current plan to increase this to 38% by 2030.
This is just short of where the IEA says G7 members need to be, but according to Ember analysis, Japan has an “untapped opportunity” to expand its renewable energy capacity through offshore wind, and nascent rooftop solar.
Jones added: “As the outlier in its speed of energy transition, Japan needs to go back to the drawing board and get serious about the amount of clean electricity that it needs to build.”
The US has committed to achieve 100% clean power by 2035, under the Biden Presidency.
This includes a near term target for 30GW of offshore wind by 2030.
While recent months have proved challenging, Biden has recently invoked the Defence Production Act to increase production of solar panels, building insulation and other equipment, and has noted that the US is ready to make a “fundamental turn toward renewable energy”.