"Renewables have shown throughout the current crisis that they are the most resilient energy source", at a time when the collapse in the price of oil is shaking up multinational oil companies, underlines Francesco La Camera, the director general of IRENA, an intergovernmental agency responsible for supporting the energy transition. They are "more and more competitive, and can be managed easily, remotely", he recalled in an interview with AFP.
The renewable power sector has grown its share of the market globally during the coronavirus pandemic, while oil, natural gas and coal have all declined, the director general of the International Renewable Energy Agency said June 24.
Once the current Covid-19 crisis has been contained, the focus of governments everywhere will inevitably shift to improving their economic health. The International Renewable Energy Agency projects that accelerate investment in renewable energy could add almost US$100 trillion to global GDP by 2050.
Many new renewable energy projects are now cheaper than even the cheapest coal-fired power plants. That’s the striking finding of the International Renewable Energy Agency (IRENA), which has been crunching the data on 17,000 renewable power projects and more than 10,000 power deals signed in 2019.
Investment in renewable energy in Southeast Asia is holding up despite the economic pressure of the coronavirus pandemic, with many business buyers seizing chances to lock in low-cost power supplies for the long term, according to companies in the sector. For utility projects built to supply local power grids, 56% of renewable capacity additions in 2019 achieved lower electricity costs than coal plants, according to the International Renewable Energy Agency.
As a plentiful source of energy, the sun’s rays have the potential to energize our daily lives with less damage to our planet than fossil fuels. The International Renewable Energy Agency estimates that by 2050, global demand for energy will nearly double.
Until recently, climate experts projected that it wouldn’t be possible to decarbonize the electric grid until 2050—and that moving to fully renewable energy could raise the price of electricity for consumers. Since 2010, the cost of utility-scale solar power has dropped 82%, according to a recent report from the International Renewable Energy Agency.
The twin global goals of effectively responding to COVID-19 and bringing power to hundreds of millions of people lacking electricity and cooling infrastructure are converging. The International Renewable Energy Agency and the UN's Economic and Social Commission for Asia and the Pacific are working to help rural health centers.
Australia's renewable energy output is on track to post its sharpest rise on record in the next two years, driving down power prices and intensifying the prospect of early closures of coal-fired power plants across the country. The falling cost of renewables is paving the way for private investment into large scale renewable projects. The International Renewable Energy Agency’s Power Generation report for 2019, released this week, found the average cost of electricity from large scale solar plants in Australia fell by 78 per cent between 2010 and 2019.
Plunging costs of renewables mark a turning point in a global transition to low-carbon energy, with new solar or wind farms increasingly cheaper to build than running existing coal plants, according to a new report by the International Renewable Energy Agency. "Renewable energy is increasingly the cheapest source of new electricity, offering tremendous potential to stimulate the global economy and get people back to work" IRENA Director-General, Francesco La Camera.
Last week’s U.N.-sponsored report on tracking Sustainable Development Goal 7 brought some good news. The number of people without access to electricity has fallen from 1.2 billion in 2010 to 789 million in 2018. But the report also noted that many public facilities still lack access. The WHO, IRENA, World Bank, and Sustainable Energy for All plan to commission a global assessment of data on electricity access, reliability, and demand in health care facilities. This will inform decisionmaking by serving as a benchmark against which progress in electrifying health care facilities can be measured.
New solar and wind farms will soon cost less than many of the world’s coal-fired power plants, and governments should invest in them to boost economies amid the coronavirus, according to the International Renewable Energy Agency.
Plunging costs of renewables mark a turning point in a global transition to low-carbon energy, with new solar or wind farms increasingly cheaper to build than running existing coal plants, according to a report published on Tuesday. “We have reached an important turning point in the energy transition,” Francesco La Camera, director-general of IRENA, said in a statement.
New solar and wind energy projects are "undercutting the cheapest and least sustainable of existing coal-fired plants" worldwide, the International Renewable Energy Agency (IRENA) said in a report Tuesday.
Companies could save billions, says report, as well as curbing carbon emissions. The International Renewable Energy Agency (IRENA) has found that up to 1,200 gigawatts of the world’s existing coal capacity could cost more to run than the cost of new utility-scale solar plants.
This year, the world has been struck by the greatest health crisis of our lifetimes. As we recover from the coronavirus pandemic, the UK, like every country, will face a choice: between laying the foundations for sound, sustainable and inclusive growth or locking in polluting emissions for decades to come. A recent report from the International Renewable Energy Agency found that boosting investment in renewables would increase jobs in the sector to 42 million globally by 2050, nearly four times more than today.
One in 10 people lack electricity and the pandemic will likely make it harder still to meet a global goal of getting power to everyone by 2030, international organisations said on Thursday. Some utilities and off-grid providers are expected to face financial difficulties, said the report from the IEA, the International Renewable Energy Agency, the U.N. Statistics Division, the World Bank and the World Health Organization.
The world will fail to secure universal access to reliable, sustainable and modern energy by 2030 unless efforts accelerate. That is, it will fail to comply with Sustainable Development Goal number 7 . The new Tracking SDG 7: The Energy Progress Report (2020) published today by the International Energy Agency (IEA), the International Agency for Renewable Energy (IRENA), is dedicated to this objective of sustainable development. United Nations statistics, the World Bank and the World Health Organization.
Global investment in green energy was falling well short of that necessary to hit the Paris Agreement target of limiting global warming to within 2 degrees Celsius by 2100. In order to achieve that, countries will need to at least double their annual investment in renewables compared to current levels, from around $310 billion to more than $660 billion, according to the International Renewable Energy Agency.
Across the world, various countries are rolling out plans for a greener future. The massive stimulus packages to rebuild post-pandemic economies offer an unexpected opportunity to drive advances in cleaner technologies and create new industries and jobs. The International Renewable Energy Agency, in its latest outlook, says ambitious spending on green power and energy efficiency measures could dramatically cut fossil fuel use. That could help clear the air and restore blue skies.