A report by the IEA offers encouraging news, showing renewables recorded the highest growth rate of any energy source in 2017, meeting a quarter of global energy demand growth. Meanwhile, IRENA has found the private sector provided over 90 percent of investment in renewable energy in 2016. And the price of solar and wind power continues tio drop – 80 percent for wind, and 30 to 40 percent for solar since 2009.
French water and waste group Veolia has opened what it says is Europe’s first recycling plant for solar panels and aims to build more as thousands of tonnes of ageing solar panels are set to reach the end of their life in coming years. In a 2016 study on solar panel recycling, IRENA said that in the long term, building dedicated PV panel recycling plants makes sense. It estimates that recovered materials could be worth $450 million by 2030 and exceed $15 billion by 2050.
IRENA estimates that Africa’s potential for renewables on the continent is around 310 GW by 2030, however, only 70 GW will be reached based on current nationally determined contributions. According to an 2017 IRENA report, 45 African countries have quantifiable renewable energy targets in their NDCs. IRENA Director Policy and Finance expert, Henning Wuester, said that there was less than USD10 billion investment in renewables in Africa and that it needed to triple to fully exploit the continent’s potential.
Negotiators from the European Commission, the Parliament and the Council reached a late on June 14 for an ambitious political agreement on increasing renewable energy use in Europe. IRENA Director General Adnan Z. Amin has also welcomed the EU’s decision to increase its renewable energy target. “The EU’s decision to increase its renewable energy target from 27% to 32% by 2030 is a move that consolidates Europe’s position at the forefront of the global energy transformation,” he said.
Europe’s power sector is under pressure as never before from changes in government policy to technological advances and the explosive growth and falling costs of renewables all of which are undermining the economics of traditional power plants. A recent forecast by IRENA predicted that on current trends, by 2020, “all mainstream renewable power generation technologies can be expected to provide average costs at the lower end of the fossil-fuel cost range".
Global spending on renewable energy is outpacing investment in electricity from coal, natural gas and nuclear power plants, driven by falling costs of producing wind and solar power. The price of renewable energy sources is now competitive with fossil fuel production in many places. By 2017, the global average cost of electricity from wind power on land was $ 60 per megawatt hour and $ 100 for sun, towards the end of $ 50 to $ 170 for new fossil fuel plants in developed countries, according to IRENA.
IRENA is trying help a local joint venture secure funding for a 1.3-megawatt solar project in Balayan City, Batangas. The global RE energy agency is doing this through its virtual marketplace. Called Sustainable Energy Marketplace, the platform seeks to bolster both public and private investments in RE and energy efficiency in developing and emerging nations to meet global climate and sustainable development goals
Investors are increasingly excited about the prospects for much faster growth in the solar power industry in Southeast Asia. They say that the region is in a perfect position to benefit from rapidly declining prices in solar panels. By the end of last year, Southeast Asia had installed solar capacity of over 3 gigawatts, 1 percent of global capacity, according to data from IRENA.
Sometimes the news about our environment can feel a little monotonous. We read the same old headlines about how important the environment is. On World Environment Day 2018, it’s time to inject some hope and inspiration into the mix. IRENA estimates that to limit global warming to 2°C, renewable energy will need to provide 65% of the world’s energy in 2050, up from around 15% today. Please enter content for Here are 6 big ideas to help the environment
A new report from IRENA has revealed that companies across 75 different countries sourced an impressive total of 465 terawatt-hours’ worth of renewable energy in 2017, highlighting the continued interest in and support of corporate renewable energy purchasing. The new report, Corporate Sourcing of Renewable Energy: Market and Industry Trends, is the world’s first global and comprehensive analysis of corporate sourcing of renewable electricity.
Canada is set to join IRENA, the world’s largest intergovernmental organization that supports countries in their transition to sustainable energy sources. “Canada is an established energy powerhouse with tremendous potential to further scale-up its vast renewable energy resources as part of its low-carbon growth agenda,” said IRENA Dire tor-General Adnan Z. Amin.
Corporate demand for renewables is continuing to grow rapidly, with companies in 75 countries having actively sourced 465TWh of renewable energy in 2017. That is the headline finding of a new a new report from IRENA published at the Clean Energy Ministerial meeting in Copenhagen. The report predicted the continued decline in the costs of renewables means corporate demand is expected to continue to increase as companies seek to reduce electricity bills, hedge against future price spikes, and address sustainability concerns.
Canada is set to join IRENA, the world’s largest intergovernmental organization that supports countries in their transition to sustainable energy sources, officials announced. “Canada is an established energy powerhouse with tremendous potential to further scale-up its vast renewable energy resources as part of its low-carbon growth agenda,” said IRENA director general Adnan Z. Amin.
A new report by IRENA shows businesses are increasingly switching to renewable energy at scale – but that greater and faster action is needed to help deliver on the Paris Agreement by 2050. Corporate Sourcing of Renewables: Market and Industry Trends shows that more and more companies around the world are using, procuring, or investing in renewable energy
New data from IRENA has detailed the vital importance renewable energy is now playing to remote communities. Solar power, hydro and biogas are providing an estimated 146 million people with access to energy, according to the agency’s latest estimates.
The solar power sector created 164,400 jobs by the end of 2016-17, while solar heating gave jobs to 17,000 people. The wind industry has spawned 61,000 jobs. This is according to a recent report by the Abu Dhabi-headquartered IRENA.
Over 500,000 new jobs were generated by the renewable energy industry last year, a 5.3 percent rise when compared to 2016, according to a report. The number of people working in the renewable energy sector including large hydropower hit 10.3 million in 2017, IRENA study said. Breaking the figures down, IRENA said that the solar photovoltaic industry employed the largest amount of people, with almost 3.4 million working in that sector.
The solar photovoltaic sector was the largest employer in the renewable energy industry last year, accounting for 3.4 million jobs, up from 3.1 million in 2016, according to IRENA data. Bioenergy was the second biggest employer at about 3.1 million jobs, more than double the size of hydropower, which came in third at 1.5 million.
Asia is leading the global surge in renewable energy jobs. In 2017, the renewable energy industry broke a symbolic threshold, employing over 10 million people, according to IRENA latest research. IRENA found that over half a million jobs were added in the last year alone. The biggest job-creating technology is solar photovoltaics: 3.4 million jobs (up nine per cent in one year).
The growing renewable energy industry created 500,000 new jobs globally last year, surpassing the 10 million-mark for the first time. Harnessing clean energy around the world had created a total of 10.3 million jobs by the end of 2017, a 5.3 percent jump on the previous year, according to the IRENA. Adnan Z. Amin, Director-General of IRENA, said the findings showed renewable energy "has become a pillar of low-carbon economic growth for governments all over the world".