Tag Archives: renewable energy

POSTS, Publications

Financing the Future

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In 2015, $286 billion was invested in renewable energy. That is an enormous sum of money by many measurements, but is it enough, and are we on track to meet the energy demands of the future with renewables?

“Unfortunately it’s not even close to enough,” said Joanne Jungmin Lee of IRENA’s Knowledge, Policy, and Finance Centre. “More money must be invested in renewables to meet the world’s growing energy demand and to realise their socioeconomic and environmental benefits.”

IRENA estimates that deploying renewables on the scale necessary to limit global temperature rise below 2 degrees would require current investment to double by 2020, and triple by 2030 to around US$ 900 billion annually. Continue reading Financing the Future →

Energy Transition, POSTS, Publications

Solar power boosts food production & fights poverty

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We all know that solar power offers myriad health and environmental benefits over traditional energy sources — including reduced emissions and improved air quality — but the social benefits it offers are perhaps less well known. A new paper from IRENA, launched today at InterSolar Europe in Munich, highlights the way solar technology is being used to power food production and empower communities to escape poverty.

Solar Pumping for Irrigation: Improving livelihoods and sustainability, details how solar technology is being used to improve farming efficiency and agricultural output, highlighting successful examples from across Africa and Asia. Continue reading Solar power boosts food production & fights poverty →

Energy Transition, POSTS, Publications

Solar Energy Could Power 13% of the World by 2030

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Less than 2% of today’s global electricity is generated by solar photovoltaics (PV), but this is set to change. According to an IRENA report released today at InterSolar Europe, this figure could grow to 13% by 2030. Letting in the Light: How Solar Photovoltaics Will Revolutionize the Electricity System finds the solar industry is poised for massive expansion, driven primarily by cost reductions. It estimates that solar PV capacity could reach between 1,760 and 2,500 gigawatts (GW) by 2030, up from 227 GW today. Continue reading Solar Energy Could Power 13% of the World by 2030 →

Events, POSTS

New Initiative to Boost Solar Energy Development

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Today at InterSolar Europe in Munich, leaders in energy, finance and law met to scale up solar energy under a new initiative. The Solar Energy Standardisation Initiative, led by IRENA and the Terrawatt Initiative, aims to spur global solar development by standardising contracts to streamline the development and finance of solar projects.

Country commitments submitted under the Paris Agreement entail roughly $1.2 trillion in solar energy investment by 2030. To reach this target, governments must implement efficient regulatory schemes that enable massive development of solar projects – with minimal risk – and allow private investors to enter the market at scale. There is also a need to reduce transaction costs so solar power can penetrate more markets across the globe. Continue reading New Initiative to Boost Solar Energy Development →

POSTS, Publications

Solar PV Waste Offers Significant Business Opportunity

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The solar industry is booming. There was 227 gigawatts of installed solar PV capacity in 2015 and this figure is expected to reach 4,500 by 2050 – a more than 1,800% increase.

This staggering deployment means good things for the world’s climate, economy and society, but it will also result in a huge amount of electronic waste as solar panels reach the end of their roughly 30-year life span.

But with this waste, comes new opportunity. Continue reading Solar PV Waste Offers Significant Business Opportunity →

Events, POSTS

IRENA’s Summer of Solar at InterSolar Europe

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This week, IRENA joins thousands of energy enthusiasts in Munich, Germany at InterSolar Europe, the world’s leading solar industry trade exhibition. Linked this year to EU PVSEC, the world’s largest conference in the field of solar photovoltaics (PV), the event will bring together an unprecedented range of solar stakeholders to further the already impressive growth of the industry in recent years.

Over the course of the week, IRENA will lead and participate in 10+ side events, launch three solar-focused publications, launch one new solar initiative, and staff the IRENA booth (B3.572) in the exhibition hall. Continue reading IRENA’s Summer of Solar at InterSolar Europe →

Oceania, POSTS, Publications

Renewables Can Supply Nearly 100% of Samoa’s Electricity Needs

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Like many island nations, Samoa possesses enough renewable energy potential to meet nearly 100% of its electricity demand in a sustainable, affordable way. According to a new study conducted by IRENA, a combination of hydro, solar and wind power can supply up to 93% of the island’s electricity demand if a few measures are incorporated into the existing power system and if water supply remains steady.

More than 20% of Samoa’s power needs are met with renewables. The rest is met with imported diesel fuels, which have a negative effect on domestic energy security and energy prices. IRENA’s study finds that a significant increase in renewable energy capacity is possible – including 14 megawatts (MW) of solar PV and an additional 5 MW of hydro – and can reduce the island nation’s dependence on costly fossil fuels, while helping achieve the government target of 100% renewables by 2017. If an additional 8 megawatts (MW) of biogas projects are implemented, then 100% renewable energy electricity would be achieved. Continue reading Renewables Can Supply Nearly 100% of Samoa’s Electricity Needs →