To achieve the global goal of tripling renewable power capacity by 2030, the world’s largest emitters of CO2 emissions in G20 and beyond would need to more than double their annually added installed renewable capacity by 2030. Yet, progress falls short and is unevenly spread in a few economies according to data published by IRENA … Continue reading G20+ Countries Hold the Key to the Global Renewable Target by 2030
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Renewable energy benefits: Leveraging local capacity for concentrated solar power
Renewable energy development can drive economic growth, create new jobs and enhance human health and welfare. IRENA’s leveraging local capacity series examines how renewable energy projects create jobs and how countries can maximise these benefits by anticipating their needs and building on existing skills and resources. These analyses outline the workforce and the types of … Continue reading Renewable energy benefits: Leveraging local capacity for concentrated solar power
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Large-scale wind and solar projects in Sub-Saharan Africa
Accessible, reliable and affordable energy plays an essential role in human and economic development for the people of Sub-Saharan Africa, especially in improving livelihoods and access to opportunities. Renewables are crucial in this context, promising substantial socio-economic gains whilst also addressing the lack of access to electricity that hampers communities’ climate resilience, limiting their adaptive … Continue reading Large-scale wind and solar projects in Sub-Saharan Africa
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Solar photovoltaics (PV) and storage: better together
Grid and storage readiness is key to accelerating the energy transition. Connecting renewable energy to the power system needs grid infrastructure, both at transmission and distribution levels, including overhead lines, underground and submarine cables and power substations. Despite the obvious, this fact has been widely overlooked in several regions. Urgent actions must be taken to … Continue reading Solar photovoltaics (PV) and storage: better together
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A Quality Infrastructure Roadmap for green hydrogen
Interest in green hydrogen is increasing among the international community, in light of its potential role in decarbonising end-use sectors to meet the goals of the Paris Agreement. According to IRENA’s 1.5°C scenario, green and blue hydrogen production would need to increase to 125 million tonnes per year (Mtpa) by 2030 and 523 Mtpa by … Continue reading A Quality Infrastructure Roadmap for green hydrogen
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NDCs 3.0 a ‘Make or Break’ for Global Goal to Triple Renewables by 2030
Even if all COP announcements to date were to be fully implemented, a significant CO2 emission gap would still need to be closed by 2050, according to IRENA’s World Energy Transitions Outlook 2024. Released at the opening of the UN Climate Conference COP29 in Baku, Azerbaijan, the Agency’s 1.5°C Scenario outlines a net-zero path by … Continue reading NDCs 3.0 a ‘Make or Break’ for Global Goal to Triple Renewables by 2030
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Green hydrogen auctions: A guide to design
Based on lessons learned from renewable power auctions, this report represents a guide for policymakers concerned with the design of auctions for green hydrogen deployment. The benefits of green hydrogen go beyond reducing greenhouse gas emissions. Green hydrogen can enable green industrialisation, energy independence, increased participation in global trade and markets, and job creation. Driven … Continue reading Green hydrogen auctions: A guide to design
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Decentralised solar photovoltaic (PV): A gender perspective
This study finds that women continue to face numerous barriers to engagement in the decentralised solar photovoltaic (PV) workforce, providing recommendations to advance female inclusion in the sector. Decentralised renewable energy, particularly solar PV, can provide much-needed access to clean, reliable and affordable energy for remote and hard-to-electrify communities, and can also significantly boost employment … Continue reading Decentralised solar photovoltaic (PV): A gender perspective
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For WoodMac, the global average LCOE of photovoltaic (PV) reaches €55.5/MWh in 2024, compared to €40/MWh according to IRENA for 2023
The levelized cost of electricity (LCOE) of solar photovoltaic (PV) has continued to decline worldwide in 2024, according to the latest report by consultancy Wood Mackenzie. The global average LCOE of fixed solar photovoltaic (PV) systems in 2024 reached $66/MWh (€61/MWh), with a range between $28/MWh and $117/MWh (€26/MWh and €108/MWh). The price difference is … Continue reading For WoodMac, the global average LCOE of photovoltaic (PV) reaches €55.5/MWh in 2024, compared to €40/MWh according to IRENA for 2023
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Tracking progress toward tripling renewable energy capacity and doubling energy efficiency by 2030
A key aspect of the text of the Outcome of the First Global Stocktake was the explicit recognition of the role of renewable energy in rapidly and drastically reducing global greenhouse gas emissions to align the world with a 1.5°C-compatible pathway. To this end, the text called on all Parties to the Convention to contribute … Continue reading Tracking progress toward tripling renewable energy capacity and doubling energy efficiency by 2030
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Global Goal of Tripling Renewables Needs USD 1.5 Trillion Investment Per Year
Official tracking report of UAE Consensus energy goals confirms significant gaps in progress towards tripling renewables and doubling energy efficiency by 2030; recommends priority actions and dramatic scale of investment for next round of NDCs. Despite an unprecedented acceleration in renewable energy deployment in 2023, progress falls short to triple renewables by 2030. Current national … Continue reading Global Goal of Tripling Renewables Needs USD 1.5 Trillion Investment Per Year
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Solar photovoltaics (PV) accounts for 44% of global renewable energy employment
Solar PV jobs represented 44% of all the global renewable energy workforce in 2023, according to a report from the International Renewable Energy Agency (IRENA). In its 11th edition of the ‘Renewable Energy and Jobs’ annual report, IRENA highlighted that directly or indirectly, renewable energy employed 16.2 million people in 2023, of which 7.1 million … Continue reading Solar photovoltaics (PV) accounts for 44% of global renewable energy employment
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Average LCOE for photovoltaics (PV) stood at $0.044/kWh in 2023, IRENA says
The International Renewable Energy Agency (IRENA) says the result represents a 12% year-on-year decrease in the cost of photovoltaics (PV). The figure has fallen by 90% since the beginning of 2010.The globalized weighted levelized cost of electricity (LCOE) for large-scale photovoltaic (PV) plants stood at $0.044/kWh in 2023, according to a report by the International … Continue reading Average LCOE for photovoltaics (PV) stood at $0.044/kWh in 2023, IRENA says
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Critical materials: Batteries for electric vehicles
A new report by the International Renewable Energy Agency (IRENA), “Critical Materials: Batteries for Electric Vehicles”, reveals that the growing demand for electric vehicle (EV) battery materials required by 2030 can be met by expanding sustainable supply chains and scaling-up the development and adoption of innovative technologies. According to IRENA’s 1.5°C Scenario, outlined in the … Continue reading Critical materials: Batteries for electric vehicles
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Photovoltaic (PV) 56% cheaper than fossil fuels or nuclear
81% of renewable additions in 2023 were cheaper than fossil fuel alternatives, offering countries a compelling business and investment case to triple renewables by 2030, according to the International Renewable Energy Agency (IRENA). Renewables remain competitive despite fossil fuel prices returning closer to historical cost levels, concludes Renewable Power Generation Costs in 2023, released by … Continue reading Photovoltaic (PV) 56% cheaper than fossil fuels or nuclear
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Record Growth Drives Cost Advantage of Renewable Power
81% of renewable additions in 2023 were cheaper than fossil fuel alternatives, offering countries a compelling business and investment case to triple renewables by 2030. In 2023, the global weighted average levelised cost of electricity (LCOE) from newly commissioned utility-scale solar photovoltaic (PV), onshore wind energy, offshore wind and hydropower fell. Between 2022 and 2023, … Continue reading Record Growth Drives Cost Advantage of Renewable Power
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Shaping sustainable international hydrogen value chains
The production of renewable-based hydrogen and its derivatives holds immense economic potential, particularly in areas with high renewable potential, water resources, land availability and low finance costs. These physical properties, however, may not always recommend production at scale in close proximity to anticipated demand centers. In such cases, international trade can play a pivotal role … Continue reading Shaping sustainable international hydrogen value chains
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Green hydrogen strategy: A guide to design
This report provides a step-by-step guide to assist policy makers in drafting and updating national hydrogen strategies, based on lessons learned from national experiences from around the world. Green hydrogen offers a sustainable solution to reduce emissions in hard-to-abate sectors, and has the potential to play a leading role in global decarbonisation efforts. With countries … Continue reading Green hydrogen strategy: A guide to design
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Floating offshore wind energy outlook
Offshore wind, with its high capacity factors and growing competitiveness, continues to gain increasing attention within the context of the global transition to renewable energy. In particular, floating offshore wind is gaining particular interest among stakeholders, owing both to the significant wind energy potential available in open water areas, and the broader social acceptance of … Continue reading Floating offshore wind energy outlook
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Tripling renewable energy by 2030 requires a minimum annual growth rate of 16.4%
The Renewable Energy Statistics 2024 released by the International Renewable Energy Agency (IRENA) today shows that despite renewables becoming the fastest growing source of power, the world risks missing the tripling renewables target pledged at COP28. To stay the course, the world will now have to grow renewables capacity at a minimum 16.4% rate annually … Continue reading Tripling renewable energy by 2030 requires a minimum annual growth rate of 16.4%
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