The transition to renewable energy is at a snail’s pace, compared to global goals. A report by the International Renewable Energy Agency (IRENA) said the world is set to add as much renewable power in the next 5 years, as it did in the past 20.
About 90% of the world’s electricity can and should come from renewable energy, by at least 2050.
Almost 30 per cent of global electricity, comes from renewables, according to a recent report by IRENA.
Antonio Guterres, United Nations Secretary – General, said “renewable technologies like wind and solar power are, in most cases, cheaper than the fossil fuels that are driving climate change, but the world needs to prioritize the transformation of energy systems to renewable energy.”
Guterres believes fossil fuel subsidies are one of the biggest financial barriers (an estimated $11 billion a day, according to a report by the International Monetary Fund) hampering the world’s shift to the energy transition.
An estimated $4 trillion a year needs to be invested in renewable energy until 2030 in order to reach net-zero emissions by 2050.
Renewable energy sources include water, geothermal, wind and solar.
The 911 Metallurgist, reported a global growth in the production of fossil fuels and renewables over 40 years, between 1980 and 2019.
Countries using renewable energy as the largest source towards electricity supply, include Iceland and Norway.
Catch more on thus story in the January issue of Earthnews365.