rss
4

IEA, IRENA says renewables can provide 80% global power by 2060

Print Friendly

PV Magazine

Berlin Energy Transition Dialogue 2017 will see the presentation of a joint report by International Renewable Energy Agency (IRENA) and International Energy Agency (IEA), their first ever collaboration with an eye on decarbonization of global energy system.

rsz_amir-kabir-i

The International Energy Agency (IEA) and the International Renewable Energy Agency (IRENA) are scheduled to present their latest findings on Monday, exploring how the globe‘s carbon footprint can be reduced by 70% by 2050, and completely phased out by 2060, bringing major economic gains.

In order to keep the global temperature rise below two degrees Celsius, as set out in the Paris Agreement of 2015, the way the world generates and uses energy needs to change on a global scale, the report said.

Renewable energy now accounts for 24% of global power generation and 16% of primary energy supply. To achieve decarbonization by 2050, renewables should account for 80% of power generation and 65% of total primary energy supply, according to the report titled The Perspectives for the Energy Transition: Investment Needs for a Low-Carbon Energy Transition.

The transition to a clean energy economy, naturally, requires substantial investment an additional $29 trillion until 2050, but the silver lining is that this amounts to a small share of global GDP (0.4%). Furthermore, as stated in the report, such investments would boost global GDP by 0.8 % in 2050, generate new jobs along with offsetting job losses in the fossil fuel industry, and improve human welfare thanks to reduced air pollution.

As stated in the report, solar PV capacity increased by as much as 50% in 2016 year-on-year, but asset financing for solar PV was significantly lower, largely because of cost declines, policy changes and integration concerns in specific markets , such as China and Japan.

Solar PV stands out as the largest single renewable energy employer, supporting 2.8 million jobs in 2015, which is an increase of 11% from 2014, the report reads, adding that wind and solar combined will become the largest source of electricity by 2030.

The report calls for policy efforts to pave the way to increasing renewables-based generation capacity and emphasizes the importance of considering the needs of those without energy access.

The Berlin Energy Transition Dialogue will wrap up on Tuesday. pv magazine is at the event, and will bring you further reports of the show.

Source: PV Magazine. Reproduced with permission.

  

Share this:

  • Jo

    In the words of our prime minister: IRRESPOSNSIBLE!

  • Farmer Dave

    The IEA has consistently been low in its predictions of future renewable energy use. It was not alone in missing the potential for the cost of PV and wind to fall as rapidly as it has. This report appears to be more optimistic about the potential of renewables than previous IEA reports, but the rate of de-carbonisation it predicts is not fast enough; I understand that to have a 50:50 chance of avoiding 2 degrees C of warming we will need to have phased out fossil fuels for electricity production by some time between 2030 and 2040, and have eliminated all uses of fossil fuels by no later than 2050. This report anticipates a much slower phasing-out than that.

  • George Darroch

    If renewables are not at 90% by 2050 I will be very surprised.

  • This report is riddled through with misleading references to “carbon capture and storage (CCS)”.

    Forget so-called “carbon capture and storage” which I take to be a fraudulent exercise by the fossil fuel industry.

    Typically, with CCS fraud, most of the carbon dioxide which may be captured won’t be stored for long before it is sneakily vented to the atmosphere by cowboy operators because there will be a profit in doing so.

    Leaking CO2 will always be cheaper than storing CO2. Storage can’t be policed. Indeed the fossil fuel industry has no intention of policing CCS.

    The CCS fraud is simply promoted to serve as a slogan and an excuse for ignorant government ministers to repeat, while continuing to support the business-as-usual fossil fuel industry and dodging valid criticisms of fossil fuel burning causing global warming and environmental damage.

    Certainly the world needs leadership towards a 100% renewable energy future but it is scientists like myself who offer that leadership, not stooges for the fossil fuel industry.

    Scottish Scientist
    Independent Scientific Adviser for Scotland
    https://scottishscientist.wordpress.com/

    * Double Tidal Lagoon Baseload Scheme
    * Off-Shore Electricity from Wind, Solar and Hydrogen Power
    * World’s biggest-ever pumped-storage hydro-scheme, for Scotland?
    * Modelling of wind and pumped-storage power
    * Scotland Electricity Generation my plan for 2020