According to a recent report, 86% of all global power demand could be met by renewable energy by 2050.
The International Renewable Energy Agency (IRENA) has released a report titled “Global Energy Transformation: A Roadmap to 2050” highlighting the future of renewables.
IRENA claims that if global policymakers, businesses, and investors collaborate to enable further renewable energy projects, the target could be met, edie.net reported.
The report suggests that these policymakers, businesses, and investors should also aim to electrify sectors such as transport and heavy industry.
“The energy transformation is gaining momentum, but it must accelerate even faster,” remarked Francesco La Camera, Director-General of IRENA.
“Urgent action on the ground at all levels is vital, in particular unlocking the investments needed to further strengthen the momentum of this energy transformation.”
“Speed and forward-looking leadership will be critical – the world in 2050 depends on the energy decisions we take today.”
“The UN’s 2030 SDG agenda and the review of national climate pledges under the Paris Agreement are milestones for raising the level of ambition.”
Global energy stakeholders will be required to align with the Paris Agreement 2C trajectory in order for renewables’ contribution in the energy mix to increase six times as fast.