Renewable energy spending needs to double by 2030, says International Renewable Energy Agency

Governments should double total investment in solar, wind and other green technologies over the next decade to achieve a pathway to climate safety, the International Renewable Energy Agency said.

Renewables should generate 57% of electricity worldwide by the end of the decade, up from 26% today, IRENA said Sunday in a statement. To reach that target, countries can redirect some of the $10 trillion earmarked for fossil-fuel projects and spend it instead on green power, the inter-governmental group said.

Renewable energy solutions are affordable, readily available and deployable at scale, Irena Director-General Francesco La Camera said in the statement.