Renewables to meet 80 pct world energy supply by mid-century

Renewable sources could supply close to 80 per cent of the world’s energy needs by mid-century if backed by the right public policies, says the Intergovernmental Panel on Climate Change (IPCC).

In a report, it says that almost half of current investment in electricity generation is going into renewables. But growth will depend on having the right policies in place, it says.

The report said renewable sources — bioenergy, wind, solar, geothermal, hydropower and ocean energy – currently accounted for about 13 per cent of global energy supply.

To reach the goal of generating nearly 80 per cent of the world’s energy from those same sources would require investments by governments and the private sector amounting to USD 5.1 trillion through 2020, and nearly USD 7.2 trillion between 2021 and 2030, according to the report.

The findings, from over 120 researchers working with 194-nation IPCC, also indicate that the rising penetration of renewable energies could lead to cumulative greenhouse gas savings equivalent to 220 to 560 Gigatonnes of carbon dioxide (GtC02eq) between 2010 and 2050.

Source: efe.com