Saturday, April 17, 2021

IRENA presented the outline of World Energy Transitions Outlook till 2050

 Recently published preview of IRENA’s World Energy Transitions Outlook presents an outline of the global strategies towards carbon-neutrality and leads way to a climate-safe 1.5°C pathway by 2050.

It is projected that over 70% of all decarbonization solutions will involve renewable energy through the direct supply of low-cost power, efficiency, renewable-powered electrification in end-use. Carbon capture and removal technologies in combination with bioenergy will deliver the ‘remaining reductions towards a net-zero energy system.

The suggested pathway also assumes a decline in fossil fuel use by more than 75% over the same time, with oil and coal consumption decreasing fastest.

Required energy transition investment will have to increase by 30% over planned investment to a total of USD 131 trillion between now and 2050, corresponding to USD 4.4 trillion on average every year.