|17 March 2016|

Multi-billion dollar savings can be made from doubling the share of renewables in the global energy mix by 2030, according to a new report by the International Renewable Energy Agency (IRENA).

The REmap: Roadmap for a Renewable Energy Future, released today at the Berlin Energy Transition Dialogue, claims savings of save up to USD 4.2 trillion annually by 2030 – 15 times more than the costs. It recommends options to boost the share of renewable energy in the global energy mix from just over 18% today, to as much as 36% by 2030.

“Achieving a doubling is not only feasible, it is cheaper than not doing so,” said IRENA Director-General Adnan Z. Amin. “REmap shows this is not only the most economic pathway, but also the most socially and environmentally conscious. It would create more jobs, save millions of lives from reduced air pollution and set us on a pathway to limit global temperature rise to two degrees as agreed in Paris.”

This second edition of IRENA’s global roadmap broadens its analysis to cover 40 countries, representing 80% of global energy use. According to the report, great strides have been made to increase renewables in the power sector, which is on track to generate roughly 30% of the world’s electricity by 2030 (up from 23% today). If a doubling is achieved, this share would grow to more than 50%. There is also great potential to increase renewables in transport, buildings and industry, but these sectors are currently lagging behind.

“The energy transition is well underway in the power sector, but to reach global climate and development targets, the next phase will require more focus on transport, heating and cooling,” said Director of IRENA’s Innovation and Technology Centre Dolf Gielen. “If a doubling is achieved, these sectors would account for roughly half of renewable energy use in 2030 and so must scale-up dramatically to meet that target.”

Mr Amin added: “The age of renewable energy is here, but without concerted efforts, its potential will not be reached fast enough to meet international climate and development targets. For decision makers in the public and private sectors alike, this roadmap sends an alert – both on the opportunities at hand and on the costs of not taking them.”

Click here to download the report.