In the midst of a global pandemic, it’s clear that we are up against enormous challenges, and progress in key areas is slow or regressing, as the recent Sustainable Development Goals report shows. Investments in recovering from COVID-19 also need to focus on sustainable jobs and sectors. The International Renewable Energy Agency (IRENA) estimates that decarbonizing the world economy by 2050 would boost cumulative global GDP gains by US$98 trillion between now and 2050, quadrupling renewable energy jobs to 42 million, with higher gender parity than traditional sectors.
The global pandemic shows that the world urgently needs a new model for global cooperation. Public-private collaboration is required more than ever to ensure this reboot is sustainable and inclusive. The mobilization of 1,200 organizations through the COVID Action Platform shows what can be done to improve lives and livelihoods on a global scale. The World Economic Forum partnered with the International Renewable Energy Agency (IRENA) to help accelerate the industry transition to clean energy.Please enter content for Leaders Rally for a Great Reset to Achieve Global Goals
Wind and solar power are the main focus in the fight against climate change, but there are sources of greenhouse gases they can’t clean up. Reference: Reports from the International Renewable Energy Agency on the outlook for hydrogen technologies and on fuel cells’ global market.
In the first five months of 2020, electric generation from coal accounted for just 17% of total electricity production in the U.S. power sector. The Sierra Club and Bloomberg Philanthropies’ Beyond Coal Campaign, initiated in 2011, stated in September that the “campaign has successfully retired 60% of domestic coal-fired power plants – 318 out of 530 plants.” Similarly, Francesco La Camera, Director-General of the International Renewable Energy Agency (IRENA) declared in a June press release that “We have reached an important turning point in the energy transition.
Achieving our climate ambitions is more imperative now than ever. Pursuing a green economy makes both environmental and economic sense. For every dollar spent advancing the global energy transition, we get three to eight dollars in return, according to the International Renewable Energy Agency.
The geopolitical and geo-economic forces wrought by the coronavirus pandemic, as examined previously in this series, are likely to slow the transition to a more sustainable global energy mix. Fortunately, the pandemic has also resulted in governments gaining vastly greater influence over whether this shift stalls or accelerates. The International Renewable Energy Agency (IRENA) estimates that $110 trillion of energy-related investment will be necessary for the world to meet the Paris climate agreement goals by 2050.
Achieving net zero greenhouse gas emissions by 2050 is possible but will cost $1 trillion to $2 trillion a year, according to a new report, which warns that the cost of unmitigated climate change will be much higher. The International Renewable Energy Agency found that climate-related savings would be worth as much as $160 trillion cumulatively over the next three decades.
Solar windows have frequently been dismissed as yet another hare-brained attempt by overreaching clean energy buffs to promote renewables at the expense of fossil fuels. According to the International Renewable Energy Agency (IRENA), solar power generation is now fully competitive with fossil fuel power plants, with the global weighted average levelized cost of electricity (LCOE) for utility-scale solar PV cells having declined 75% to below USD 0.10/kWh since 2010.
Large-scale use of hydrogen is expected by 2050 for the industrial, transport, energy production and construction sectors. The International renewable energy agency (IRENA) has estimated the levelized cost of energy (LCOE) of solar and wind photovoltaic plants (fundamental for the hydrogen electrolysis process) at 20 euros per megawatt/hour for 2030 and 8 euros for 2050.
Automation will lead to a “re-shifting” of roles in the move to clean energy, says Philippa Nuttall Jones, editor in chief of Energy Monitor. The Abu Dhabi-headquartered International Renewable Energy Agency (IRENA) estimates that as many as 42 million jobs will be created in the renewables sector by 2050.
Investment in wind and solar power is expected to surpass fossil-fuel power in coming years, despite dropoff in subsidies. Today, Asia accounts for nearly half of global renewable-energy capacity, according to the International Renewable Energy Agency (IRENA).
Now that COVID-19 is compounding and exacerbating threats to the global economy, including higher public debt burdens, de-globalization and an expanding role of the state, the call for “sustainable development” to recover from the shock is widely proclaimed from all quarters. By 2050, the International Renewable Energy Agency projects that up to 78 million metric tons of solar panels will have reached the end of their life, and that the world will be generating about 6 million metric tons of new solar e-waste annually.
When the entire world was battling Covid-19, some interesting developments turned the tide in favour of the renewable energy industry. The Abu-Dhabi-based International Renewable Energy Agency (IRENA) in a report released last month noted wind and solar energy are now cheaper than fossil fuel generated electricity and could lead to a greener economic recovery post Covid-19.
Power Technology takes a look at one of the most recent peer-to-peer energy trading trial, and what it can teach early adopters. The International Renewable Energy Agency (IRENA) has said P2P trading would allow greater grid flexibility. The technology could also increase revenue for energy-generating households, known as prosumers.
ASEAN has set an ambitious target of securing 23 percent of its primary energy from renewable sources by 2025 as energy demand in the region is expected to grow by 50 percent. According to the International Renewable Energy Agency (IRENA), this objective entails a “two-and-a-half-fold increase in the modern renewable energy share compared to 2014.”
Photovoltaic panels are a boon for clean energy but are tricky to recycle. As the oldest ones expire, get ready for a solar e-waste glut. By 2050, the International Renewable Energy Agency projects that up to 78 million metric tons of solar panels will have reached the end of their life, and that the world will be generating about 6 million metric tons of new solar e-waste annually.
Agency highlights large part of new renewable energy capacity in the region is already cheaper than coal.
Covid-19 has thrown the world into unchartered territory - the impact of the pandemic is undoing years of poverty reduction in developing countries and is fueling big-power rivalries. It may well lead us into an ever messier world. But we also have the opportunity to recover stronger if we are capable of learning from the pandemic and if we have the courage to envision a future that aligns our creative capacities towards building a safer, healthier, less divisive and cleaner future. By the end of 2020, total investments in renewables will exceed investments in fossil fuels for the first time ever, according to the International Renewable Energy Agency (IRENA).
Demand for air-conditioning is rising, but providing the electricity required without boosting carbon emissions will be a huge challenge. Technology, sensible policy-making and changes in consumer behaviour can all make important contributions. As areas in which such measures can be applied to boost efficiency in buildings, the International Renewable Energy Agency (IRENA) points to “advanced construction and design techniques, enhanced insulation, and better information and control of energy use with intelligent thermostats”.
Several countries, including Saudi Arabia and Egypt, have begun to seek to establish nuclear power plants, which raises questions about the feasibility of that source, especially with the low cost of solar energy projects in recent years, and those countries enjoying typical levels of solar radiation globally. A report issued by the International Renewable Energy Agency (IRENA) last June showed that the costs of solar photovoltaic energy have decreased by 82% since 2010, followed by concentrated solar power by 47%, then onshore wind power by 39% and offshore wind energy by 29%.