New Delhi (NVI): The world has invested USD 3 trillion in renewables over the last 10 years, but annual investments in this sector must double by 2030 to ensure a sustainable future, according to the International Renewable Energy Agency (IRENA).
Since 2010, Renewable Energy (RE) has advanced to the center-ground of global energy and development policy. Renewables have become the world’s primary source of new power capacity, outpacing all other forms of new generation put together, says the global agency in a report.
In this context, a booklet produced by IRENA for its 10th Assembly charts global advances over the past decade and outlines key objectives for a new Decade of Action. The graphs and data used in the booklet underline the progress achieved and illuminate the road ahead for renewables.
In its report, IRENA says that renewable energy solutions are affordable, readily and deployable at scale. It’s possible to scale up renewables, achieve sustainable development and meet key climate goals, it says.
Here are the key findings by IRENA with respect to clean power generation:
• Renewables can become the world’s primary source of power generation.
• Renewable power could become the most competitive option based on costs alone.
• Off-grid renewables will help reduce the world’s energy access gap.
• The global energy transformation means net gains in job creation.
• Innovation will accelerate the global energy transformation.
• Renewables must grow faster to meet climate goals.
• Annual investments must double by 2030 to ensure a sustainable future.
