Renewable energy will save the global economy by $160 trillion by 2050
Home » News » Renewable energy will save the global economy by $160 trillion by 2050

Renewable energy will save the global economy by $160 trillion by 2050

Views: 46     Author: Site Editor     Publish Time: 2019-03-06      Origin: Site

The International Renewable Energy Agency (IRENA) released this week's 2050 global energy transition path map, and by 2050, renewable energy will help improve climate change and save the global economy $160 trillion.

IRENA said that in the face of increasing global emissions, the increase in electrification and renewable energy sources may make a difference, ensuring future climate goals. As global development and energy demand soar, clean renewable energy has the opportunity to replace fossil fuels and become a major form of electricity generation, which not only helps reduce carbon emissions, but also improves global socio-economic development.

The analysis provided by IRENA shows that global energy demand is expected to double by 2050, and that renewable energy can meet 86% of global electricity demand during the same period. From the current level, the additional energy load will be mainly carried by wind and solar installations.

In the next 30 years, one of the most important electrification departments is transportation. In recent years, the improvement of battery performance and the rapid decline of battery prices have made the electric vehicle (EV) revolution possible. There are currently about 5 million electric cars on the road. IRENA expects billions of electric vehicles to be on the road in a rapid transition, including huge investments in electric vehicle charging infrastructure.

Currently, renewable energy provides one-sixth of the world's total final energy consumption. But with the rapid spread of renewable energy and electrification technologies in key areas, IRENA's renewable energy sources can provide two-thirds of all energy consumption worldwide.

Therefore, another key component of decarbonization is heat supply, most of which is done by natural gas. This requires a two-pronged strategy: vigorously promote solar thermal energy conversion, including solar water heaters, and high-efficiency electric heat pumps increase 16 times.

Despite the optimistic outlook, IRENA warns that more work needs to be done to achieve the desired goals. IRENA Director General Francesco La Camera explained: “Energy transformation is gaining momentum, but it must continue to accelerate, especially to invest in further strengthening the energy transformation momentum.”

While promoting renewable energy does have its advantages, there are still many obstacles to large-scale development and implementation. For example, in the past two years, the US solar industry has been severely affected by tariffs, and Australian legislators have failed to adhere to the national COP21 emission reduction targets. Not only that, but despite widespread public condemnation, they continue to plan to open the world's largest open pit mine. . These political setbacks are relatively common and have reduced the ability of the renewable energy sector to develop and develop effectively and may have a lasting impact on global emissions.

The IRENA report pointed out that the current transition process is slow and the rate of emission reduction is inconsistent with global climate targets. The report recommends that countries take more active action to ensure a rapid and effective transition from fossil fuels, which will help achieve previously agreed goals and ensure that climate change mitigation remains a priority. IRENA advocates strengthening national policies, focusing on long-term zero-carbon strategies and promoting innovation in renewable energy, technology and smart grids.

Founded in
Solar power systems
Countries covered
Subscribe to our email list and stay upto date with all our latest updates.


Copyright © 2019 Yangzhou Best Energy Technology Co.,Ltd.All Rights Reserved  Sitemap
Leave a Message
Leave a Message