Adnan Z Amin, Director General of the International Renewable Energy Agency (IRENA), has said that the cost of renewables has come down so much that there is now a viable business case to take renewables to poorer regions of the world. He said that the technology is improving and we think we are going to be able to address the access (to renewables) issue in light of the sustainable development goals. “Providing universal access by 2030, I think we are on track for that,” he said.
The EU can boost the share of renewables to 34 percent of its energy mix by 2030, triggering hundreds of billions euros in investment and accelerating reduction of greenhouse gases, according to IRENA. “With an ambitious and achievable new renewable energy strategy, the EU can deliver market certainty to investors and developers, strengthen economic activity, grow jobs, improve health and put the EU on a stronger decarbonization pathway in line with its climate objectives,” IRENA Director-General Adnan Amin said.
The European Union can increase the share of renewable energy in its energy mix to 34 percent by 2030, finds a report by IRENA. The share amount can double by 2030 with a net positive economic impact, IRENA stated. According to the report, reaching a 34 percent renewable share by 2030 would require an estimated average investment in renewable energy of around €62 billion per year.
As the amount of renewable energy in global electricity networks continues to surge, a new question arises when will renewables become the dominant source of energy? A survey of 800 key industry figures found that China would be the first country to achieve grid parity, in 2022, followed by Spain and the United Arab Emirates two years later in 2024. IRENA said recently that clean energy sources will be cheaper than fossil fuels by 2020.
“In the oil producing heart of the Middle East we’re seeing investments in renewables at costs that are really game-changing,” says Adnan Amin, Director-General IRENA. With all this activity, the region is following a growing global trend. Amin says that, since 2013, more than $1 trillion has been invested in renewable energy around the world and the sector has outpaced investment in fossil fuel generation for five years.
Women and children are bearing the brunt of the effects of climate change, the head of IRENA told attendees at the World Government Summit in Abu Dhabi on Sunday. Adnan Amin said the failure of the international community to organise and take action today will lead to “exponential problems” tomorrow. “When climate change meets with natural disasters, women and children are the first to be hit and the last to be helped,” he said, describing the climate threat as “truly horrifying”.
Thailand’s biggest wind power generator, Wind Energy Holdings, plans to invest into other sources of electricity including solar, hydro and biomass to back up its capacity. Thailand is already Southeast Asia’s leader in solar power use, having broken into the top 15 globally in 2016, with a capacity of more than 3,000 MW, according to IRENA.
With the costs of creating electricity from solar power and wind continuing to fall, electricity from renewable energy will soon be “consistently cheaper” than electricity from fossil fuels, according to the head of the world’s renewable energy agency. By 2020, most wind and solar power technology now being commercially used will be priced in the same range as fossil fuels, “with most at the lower end or even undercutting fossil fuels”, said Adnan Amin, IRENA Director-General.
Drawing electricity from environment-friendly windmills and solar PV plants has been a costly affair since its inception due to expensive components, and is attributed to be one of the prime reasons for emerging economies and also developed markets too, showing reluctance to embrace sustainable energy production, but things are about to change for good, very soon. According to IRENA is to be believed, the production cost of producing electricity from all forms of renewable energy generation methods is expected to come down by several notches and even drop below the fossil fuel price.
Donald Trump may have imposed a 30% tariff on imported solar panels, but the energy sector has reached a tipping point, according to the head of IRENA. Adnan Amin, IRENA Director-General speaking at the Abu Dhabi Sustainability Week conference, said that “the scale and pace of transformation has accelerated, and this is leading to very significant structural changes to the energy system around the world”.
IRENA announced 25 million dollars for two solar photovoltaic projects in Mauritius and Rwanda. The investment will be injected in loans by Abu Dhabi Fund for Development and IRENA, the global platform for international cooperation on renewable energy. The projects have the potential to significantly improve the lives of over 2.5 million people and alleviate poverty by bringing affordable energy.
New onshore wind and solar energy projects are set to deliver electricity more cheaply than fossil fuels plants, with other green technologies also rapidly gaining a cost advantage over dirty fuels. According to a new cost analysis from IRENA, within two years "all the renewable power generation technologies that are now in commercial use are expected to fall within the fossil fuel-fired cost range, with most at the lower end or undercutting fossil fuels". "This new dynamic signals a significant shift in the energy paradigm," said IRENA's Director-General, Adnan Amin.
The cost of renewable energy is now falling so fast that it should be a consistently cheaper source of electricity generation than traditional fossil fuels within just a few years, according to a new report from IRENA. With further price falls expected for these and other green energy options, IRENA says all renewable energy technologies should be competitive on price with fossil fuels by 2020.
A joint parliamentary forum of the Federal National Council (FNC) and the IRENA saw legislators from around the world come together in Abu Dhabi on Thursday, to discuss solutions in implementing sustainable development goals. The FNC-IRENA joint forum, held ahead of next week's World Future Energy Summit, focused on the role of global legislators in implementing the SDG - particularly renewable energy deployment and leveraging energy-water-food nexus.
Millions of people have gained access to electricity through renewable energy during the past five years, a joint parliamentary forum organised by the Federal National Council and IRENA. Adnan Z Amin, Director-General of IRENA said: “Today, renewables are the most economic option for off-grid electrification. At least 60 million people are served through off-grid renewable energy systems in Africa, and almost all of them gained access to electricity during the past five years,” he said.
According to a report by IRENA, around 9.8 million people now work in the renewables sector worldwide. In fact, wind turbine service technician and solar photovoltaic installer are the fastest-growing occupations in the US. And the £17.5bn that will be invested in the UK offshore wind sector should also create thousands of new jobs.
Industrial metals, liquefied natural gas and steel finished 2017 in stunning fashion as a crackdown on pollution in China, the world’s no. 2 economy, boosts demand for cleaner fossil fuels and raw materials vital to clean-tech industries. World solar power capacity has ballooned to around 300 gigawatts from just 1 GW in 2000, according to IRENA data. Growth is largely driven by China, approaching 100 GW of capacity. IRENA says China can add 50 GW a year of capacity.
IRENA’s REmap analysis indicating a doubling of the share of renewable energy globally by 2030 shows that Africa could be home to more than 70GW of solar PV capacity by 2030. This will yield low-cost electricity to power Africa’s future and provide access to the approximately 600 million Africans who still lack access to electricity today.
The Kuwaiti new electricity minister has said Kuwait is determined to produce 15 percent of power from renewable energy by 2030. The deserts in Kuwait contain abundant solar and wind resources. Its solar potential, as measured in global horizontal irradiance, amounts to 1,900 kilowatt-hour per square meter per year, according to IRENA data.
The 44-member Alliance of Small Island States (AOSIS) represents some of the world’s most vulnerable island nations fighting a virtually losing battle against rising sea levels triggered by global warming and climate change. The Maldives, as the Chair of AOSIS, and in collaboration with IRENA, launched the Initiative for Renewable Island Energy in October, which will facilitates support for Small Island States in their transition to renewable energy, and in achieving energy efficiency.