Renewable Energy Growth Must Speed Up To Meet Paris Goals, Agency Says
An anonymous reader quotes a report from The Guardian: Renewable electricity production needs to grow eight times faster than the current rate to help limit global heating, according to a report. The International Renewable Energy Agency (Irena) said urgent action was needed to keep pace with rising demand for electricity, which could require a total investment of $131 trillion in renewables by 2050. Francesco La Camera, the director general of Irena, said the "window of opportunity" to achieve the goals of the Paris climate agreement was closing fast. "The recent trends show that the gap between where we are and where we should be is not decreasing but widening. We are heading in the wrong direction," La Camera said. "We need a drastic acceleration of energy transitions to make a meaningful turnaround. Time will be the most important variable to measure our efforts." The agency's outlook report says keeping a lid on rising temperatures will require electricity to surpass fossil fuels as the dominant source of energy before 2050, as more economies electrify transport and heating to help cut carbon emissions. Clean electricity will also be in high demand to produce "green hydrogen" to burn in heavy industry and manufacturing plants where direct electrification is not possible. The surge in electricity use could mean that electric power will make up just over half of all energy consumed by 2050, compared with 21% in 2018. Fossil fuels have made up almost two-thirds of energy consumption in recent years but may be reduced to 10% by 2050.
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