Agency wants to double use of renewable energy by 2030
MORE than $5.5 trillion could be saved if renewable energy used globally was doubled by 2030, according to an anti-fossil fuels organisation.
The International Renewable Energy Agency said in a report released yesterday that the savings would be up to 15 times higher than the costs.
The group said it would mean a six-fold increase in annual development in the sector and an average input of $1 trillion yearly up until 2030.
If it was achieved, IRENA said it would boost the share of renewable energy from 18% to 36%.
The group said under existing plans, the global renewables share would instead reach 21% within 14 years. The organisation said the REmap: Roadmap for a Renewable Energy Future report, its second "global roadmap", broadened its analysis to cover 40 countries, representing 80% of the world's global energy use.
It included five recommendations to achieve the goal, including ensuring the sustainable, affordable and reliable supply of bio-energy feedstocks.
IRENA also suggested promoting electric trans
port based on renewable power and biofuels to reduce air pollution, and developing and deploying renewable energy solutions for heating and cooling in new urban development projects and industry.
The organisation's innovation and technology centre director, Dolf Gielen, said the transition to renewable energy was well under way in the power sector.
"But to reach global climate and development targets, the next phase will require more focus on transport, heating and cooling," he said.
- ARM NEWSDESK