Renewable energy should supply 57 per cent of global power demand by the end of the decade, up from 26 per cent now, according to the intergovernmental International Renewable Energy Agency (IRENA).
A booklet, ‘10 years: Progress to Action’, published on the sidelines of 10th annual Assembly of IRENA in Abu Dhabi, has charted the recent global advances and outlined the measures required to scale up renewables. Annual investment needs to double from around $329 billion in 2018 to $737 billion to deploy renewable energy at the speed required. Much of it could be met by redirecting planned fossil fuel investments.
