According to IRENA, Croatia, which imports nearly 40 percent of its energy needs, could develop 3,200 megawatts of solar power by 2030. The government is drafting a new strategy aimed at reducing energy imports which is likely to be completed next year. Croatia has installed power of 4,500 MW, mostly from coal and hydroelectricity. Renewable power accounts for 28 percent of production.
As policymakers and other actors assemble at the UN climate change conference, there's a sense that the euphoria of Paris is behind us. The tasks of implementation and raising ambition are ahead, says IRENA's Adnan Amin. Nationally Determined Contributions, or NDCs, form the cornerstone of global climate cooperation. Put forward under the Paris Agreement they represent national pledges to adapt to climate change and to reduce greenhouse gas emissions together, they symbolize a collective roadmap to a climate-safe future.
Batteries are key to electric cars and, by storing energy for when the sun goes down or the wind stops blowing, they are also vital when it comes to enabling renewable energy to reach its full potential. Here too, a megatrend is massively falling prices for lithium-ion batteries, which are down 75% over the past six years. IRENA expects further falls of 50-66% by 2030 and a massive increase in battery storage.
The cost of installing solar energy is going to plummet again. Utility-scale solar power costs could drop 60 percent over the next 10 years. The already booming renewable energy sector will see a sharp drop in costs thanks to improvements in efficiency and technology, the head of IRENA said. The agency expects the cost of batteries, an essential and expensive piece of the transition to renewables, to drop by 60 to 70 percent in the next 10 years.
Solar power costs will fall by another 60 percent over the next decade giving an already booming market another boost, the head of IRENA said. IRENA expects 80 to 90 GW of new solar capacity, enough to power more than 8 billion LED light bulbs, to be added globally each year over the next 5 to 6 years, Adnan Amin, the Director-General of IRENA told Reuters.
The Paris Accord carbon emission goals are "absolutely achievable" even after the U.S. pulled out as countries are showing strong commitment to the agreement, says Adnan Amin of IRENA. "There is a strong sense of commitment from the G7 and G20 countries to meet the emissions target," added Adnan Amin.
Ten years have passed since the first Singapore International Energy Week. In that time, the world's energy landscape has undergone a dramatic transformation, spurred by an unprecedented expansion in renewables. Globally, new power-generating capacity from renewables has outstripped those fuelled by conventional sources for the last five years.
As the world resumes climate talks in Bonn next month, island states will use the devastating hurricane season to fuel calls for expanded renewable energy investment. Developed in partnership with IRENA, IRIE’s objective is to enhance political coordination and outreach to development partners with a view to mobilising the resources finance, technology, and capacity building that small islands need to make a rapid transition to renewable energy.
Small island states and nations with developing economies pledged to take a stronger initiative in the fight against climate change, low-carbon leaders said. "Small island developing nations have been frontrunners in the global drive to scale-up renewables," Adnan Amin, Director-General of IRENA, said in a statement. "This meeting is further evidence of their collective commitment to strengthen the momentum of the global energy transition."
Rapid reductions in stationary battery storage development costs could lead to a 17-fold growth in installed capacity worldwide by 2030, according to IRENA. A report by the Agency estimates development costs associated with stationary battery storage applications could plunge 66 per cent by 2030.
The Director-General of IRENA has said that the countries with large reserves of oil and gas, are taking more and more steps to increase investments in renewable energy and the share of such energy sources in their electricity mix. "We are seeing very interesting new momentum in highly carbon economies, which are investing quite ambitiously in renewable energy generation," said Adnan Amin.
Brazil has the ninth largest installed capacity for wind energy in the world at 10,740MW. By August this year, this had risen to 11,670MW spread across 466 wind farms. Data from IRENA show Brazilian wind projects are generally more expensive than those in India and China. However, they generally offset this with more favourable wind conditions.
In a recent report released by the IRENA, emphasis is placed on quality assurance and the crucial role it plays in achieving a robust photovoltaic market and confidence from investors, policy makers and consumers. IRENA Director-General, Adnan Z. Amin, said: "This forum supports policy-makers and industry across Latin America to implement the quality assurance instruments needed for the successful deployment of PV technology."
China, blighted by pollution and long known for churning out cheap manufactured goods, is looking to dominate the high-end of a major growth market. Under a new program, China is pushing the industry to mass market high-performance solar cells. World solar power generation capacity has ballooned to around 300 GW from just 1 GW in 2000, according to IRENA.
Despite being one of the lowest-cost and most reliable renewable energy sources, harnessing heat from the Earth almost doesn't happen outside Iceland. But leaders meeting in Italy this week are trying to change that. IRENA Director-General Adnan Z. Amin, called this week's Florence Declaration "a milestone that, in the strongest possible terms."
Wind power is one of the fastest growing investments among other sources of renewable energy. Although oil remains the world's leading source of one-third of the world's energy, followed by coal and natural gas that provides a quarter, the growth rate of reliance on renewable sources over the past 10 years indicate a global trend towards cleaner energy sources.
Increasing renewable energy deployment could save the (Indian) economy twelve times more than its costs by the year 2030, creating jobs, reducing carbon dioxide emissions, and ensuring cleaner air and water, with savings on health-related costs. Renewable energy technologies would lower the demand for coal and oil products between 17 per cent and 23 per cent by 2030, IRENA said.
The first geothermal energy plant in South America is in Cerro Pabellón, Chile, 14,760 feet above sea level, surrounded by volcanoes. With the ability to power roughly 165,000 homes, the new plant is yet another step in Chile’s clean energy transformation. Investment in renewable energy in Latin America has increased 11-fold since 2004, nearly double the global rate, according to a 2016 report by IRENA. Chile, Mexico and Brazil are now among the top 10 renewable energy markets in the world.
On Iceland’s Reykjanes Peninsula, a short drive from the country’s capital, a team of scientists and engineers is pursuing what they see as an energy source of the future. To unlock it, they have drilled down toward the center of the Earth, through layers of soil and rock, stopping just short of a chamber of molten magma more than 15,000 feet below the surface, a scalding pocket so hot that it would melt a lead pipe. They aim to use that heat to power the energy-hungry world — or at least part of it. Geothermal energy provided less than 1% of the world’s electricity in 2014. IRENA says that number should grow fivefold by 2030, but even that would still leave much of the world’s geothermal resources untapped.
Acting on the climate remains firmly on the global agenda. It remained a top priority for all but one of the G20 leaders who gathered in Germany this month. That is because it is increasingly clear that strong action is in the economic self-interest of countries at all stages of development. National governments, states, cities and businesses are all seeing the opportunities of climate action, from employment to investment and from smarter growth to a cleaner, healthier future for all. Take jobs, where climate action could generate a veritable bounty of clean energy employment. Globally, 62 per cent of renewable energy jobs are already in Asia, with 3.6m jobs in China alone, according to IRENA.