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Renewables a low-cost climate solution

A new report from the International Renewable Energy Agency (IRENA) champions clean power as a ‘low-cost solution’ for scaling up climate action.

With the trend of affordable green energy set to gather pace, the ‘business case’ to accelerate its adoption will only strengthen, the report says. In the Renewable Power Generation Costs in 2018 paper, IRENA highlights falls last year including 26% for concentrating solar power, and 13% for onshore wind – based on the global weighted-average cost of electricity. 

“Renewable power is the backbone of any development that aims to be sustainable,” said IRENA’s Director-General Francesco La Camera. “We must do everything we can to accelerate renewables if we are to meet the climate objectives of the Paris Agreement. Today’s report sends a clear signal to the international community: Renewable energy provides countries with a low-cost climate solution that allows for scaling up action. To fully harness the economic opportunity of renewables, IRENA will work closely with our members and partners to facilitate on-the-ground solutions and concerted action that will result in renewable energy projects.”

The study adds to the ongoing debate worldwide on how to tackle the climate crisis, and IRENA says it will feed into discussions at ‘Abu Dhabi’s global preparatory meeting for the United Nations Climate Action Summit in September’.

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