Clean power investment 'needs to hit $750bn'

14/01/2020 08:55 Renewable

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Investment in renewable energy needs to double to almost $750bn from $330bn currently to deploy clean power at the speed needed to achieve sustainable development goals and tackle climate change, according to the International Renewable Energy Agency (IRENA).

IRENA said in a new report – '10 Years: Progress to Action' – that the share of renewables in global power needs to more than double by 2030 to advance the global energy transformation.

 

Renewable electricity should supply 57% of global power by the end of the decade, up from 26% today, it said.

 

The report charts recent global advances and outlines the measures still needed to scale up renewables.

 

IRENA said much of the needed investment in clean power can be met by redirecting planned fossil fuel investment.

Source: renews.biz

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