Staying on Course: Renewable Energy in the Time of COVID-19

07 April 2020 | Press Releases

Statement by Francesco La Camera, IRENA Director-General 


  • Carbon taxes and phasing-out of fossil fuels are needed to reap the energy transitions full benefits
  • The global energy transformation could boost the global economy 2.5% in 2050
  • Electricity will be the world's central energy carrier in 2050
  • A climate-friendly future is cheaper because of falling renewable energy costs
  • The energy transformation needs a USD 110 trillion investment by 2050
  • Subsidies in the energy sector can be reduced by USD 110 trillion by 2050