{"id":7888,"date":"2020-01-13T10:51:38","date_gmt":"2020-01-13T10:51:38","guid":{"rendered":"http:\/\/oilnewskenya.com\/?p=7888"},"modified":"2020-01-13T10:51:38","modified_gmt":"2020-01-13T10:51:38","slug":"double-the-share-of-renewables-in-the-decade-of-action-to-achieve-energy-transition-objectives","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/double-the-share-of-renewables-in-the-decade-of-action-to-achieve-energy-transition-objectives\/","title":{"rendered":"Double the Share of Renewables in the \u2018Decade of Action\u2019 to Achieve Energy Transition Objectives"},"content":{"rendered":"

The share of renewables in global power should more than double by 2030 to advance the global energy transformation, achieve sustainable development goals and a pathway to climate safety, according to the International Renewable Energy Agency (IRENA). Renewable electricity should supply 57 per cent of global power by the end of the decade, up from 26 per cent today.<\/span><\/p>\n

A new booklet\u00a010 Years: Progress to Action<\/a><\/em>,\u00a0<\/em>published for the 10th<\/sup>\u00a0annual Assembly of IRENA,\u00a0<\/em>charts recent global advances and outlines the measures still needed to scale up renewables. The Agency\u2019s data shows that annual renewable energy investment needs to double from around USD 330 billion today, to close to USD 750 billion to deploy renewable energy at the speed required. Much of the needed investment can be met by redirecting planned fossil fuel investment. Close to USD 10 trillion of non-renewables related energy investments are planned to 2030, risking stranded assets and increasing the likelihood of exceeding the world\u2019s 1.5 degree carbon budget this decade.<\/span><\/p>\n

\u201cWe have entered the decade of renewable energy action, a period in which the energy system will transform at unparalleled speed,\u201d said IRENA Director-General Francesco La Camera. \u201cTo ensure this happens, we must urgently address the need for stronger enabling policies and a significant increase in investment over the next 10 years. Renewables hold the key to sustainable development and should be central to energy and economic planning all over the world.\u201d<\/span><\/p>\n

\u201cRenewable energy solutions are affordable, readily available and deployable at scale,\u201d continued Mr. La Camera. \u201cTo advance a low-carbon future, IRENA will further promote knowledge exchange, strengthen partnerships and work with all stakeholders, from private sector leaders to policy makers, to catalyse action on the ground. We know it is possible,\u201d he concluded, \u201cbut we must all move faster.\u201d<\/span><\/p>\n

Additional investments bring significant external cost savings, including minimising significant losses caused by climate change as a result of inaction. Savings could amount to between USD 1.6 trillion and USD 3.7 trillion annually by 2030, three to seven times higher than investment costs for the energy transformation.<\/span><\/p>\n

Falling technology costs continue to strengthen the case for renewable energy. IRENA points out that solar PV costs have fallen by almost 90 per cent over the last 10 years and onshore wind turbine prices have fallen by up half in that period. By the end of this decade, solar PV and wind costs may consistently outcompete traditional energy. The two technologies could cover over a third of global power needs.<\/span><\/p>\n

Renewables can become a vital tool in closing the energy access gap, a key sustainable development goal. Off-grid renewables have emerged as a key solution to expand energy access and now deliver access to around 150 million people. IRENA data shows that 60 per cent of new electricity access can be met by renewables in the next decade with stand-alone and mini-grid systems providing the means for almost half of new access.<\/span><\/p>\n

The booklet “10 Years: Progress to Action<\/em>” can be downloaded\u00a0here.\u00a0<\/a><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

The share of renewables in global power should more than double by 2030 to advance the global energy transformation, achieve sustainable development goals and a pathway to climate safety, according … Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":7889,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4746],"tags":[7280,914,7281,4783,5220,5275,5318,5317],"class_list":["post-7888","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-renewables-2","tag-carbon-budget","tag-fossil-fuels","tag-francesco-la-camera","tag-international-renewable-energy-agency","tag-irena","tag-renewables","tag-solar","tag-wind","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2020\/01\/IRENA.jpg?fit=1280%2C853&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-23e","jetpack-related-posts":[{"id":5228,"url":"https:\/\/www.oilnewskenya.com\/index.php\/off-grid-renewables-offer-unprecedented-opportunity-to-achieve-100-energy-access\/","url_meta":{"origin":7888,"position":0},"title":"Off-Grid Renewables Offer Unprecedented Opportunity to Achieve 100% Energy Access","author":"","date":"September 30, 2016","format":false,"excerpt":"More than 500 participants gathered in Nairobi today for the opening of the third International Off-Grid Renewable Energy Conference (IOREC). 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Today, roughly 15 per cent of the world\u2019s population\u2026","rel":"","context":"In "Events"","block_context":{"text":"Events","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/events\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/09\/Renewable-Energy-Conference.jpg?fit=800%2C533&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/09\/Renewable-Energy-Conference.jpg?fit=800%2C533&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/09\/Renewable-Energy-Conference.jpg?fit=800%2C533&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2016\/09\/Renewable-Energy-Conference.jpg?fit=800%2C533&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":10442,"url":"https:\/\/www.oilnewskenya.com\/index.php\/morocco-irena-partner-to-boost-renewables-green-hydrogen-development-tweet\/","url_meta":{"origin":7888,"position":1},"title":"Morocco, IRENA Partner to Boost Renewables & Green Hydrogen Development","author":"","date":"June 15, 2021","format":false,"excerpt":"The International Renewable Energy Agency (IRENA) and the\u00a0Ministry of Energy, Mines and Environment\u00a0(MEME) of the Kingdom of Morocco have today agreed to strengthen joint collaboration to advance knowledge in renewable energy and to accelerate the energy transition. Specifically, IRENA and Morocco will work closely to advance the national green hydrogen\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":9527,"url":"https:\/\/www.oilnewskenya.com\/index.php\/irena-and-african-development-bank-partner-to-scale-up-renewable-energy-investments-in-africa\/","url_meta":{"origin":7888,"position":2},"title":"IRENA and African Development Bank partner to scale up renewable energy investments in Africa","author":"","date":"December 9, 2020","format":false,"excerpt":"The International Renewable Energy Agency (IRENA) and the\u00a0African Development Bank\u00a0have agreed to jointly support investment in low carbon energy projects, a move expected to advance Africa\u2019s energy transition. The two entities signed a Declaration of Intent to coordinate on a range of activities, including co-organizing renewable energy investment forums as\u2026","rel":"","context":"In "Countries"","block_context":{"text":"Countries","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/countries\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2018\/01\/wind-1-scaled.jpg?fit=1200%2C884&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2018\/01\/wind-1-scaled.jpg?fit=1200%2C884&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2018\/01\/wind-1-scaled.jpg?fit=1200%2C884&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2018\/01\/wind-1-scaled.jpg?fit=1200%2C884&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2018\/01\/wind-1-scaled.jpg?fit=1200%2C884&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":5220,"url":"https:\/\/www.oilnewskenya.com\/index.php\/third-international-off-grid-renewable-energy-conference-kicks-off-tomorrow-in-nairobi\/","url_meta":{"origin":7888,"position":3},"title":"Third International Off-Grid Renewable Energy Conference Kicks Off Tomorrow in Nairobi","author":"","date":"September 29, 2016","format":false,"excerpt":"Key stakeholders from the off-grid renewable energy sector \u2013 including policy makers, the private sector, financiers, and development institutions \u2013 gather at the Safari Park Hotel in Nairobi tomorrow\u00a0to push forward the global off-grid agenda. 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