"They will take advantage of cost-effective renewable energy to help reduce poverty, enable income-generating activities, and provide electricity to healthcare facilities and educational institutions, which will create jobs, empower women, and strengthen local communities", said Amin.
A booklet, "10 years:Progress toAction", 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. Through cooperation with partners on the Climate Investment Platform CIP we have started working towards unlocking the much-needed financial resources for clean energy transition particularly in developing countries.
It estimated as much as United States dollars 10 trillion worth of investments are planned in non-renewables-related energy projects by 2030, risking failure to meet the goals of fighting global warming. "To ensure this happens, we must urgently address the need for stronger enabling policies and a significant increase in investment over the next 10 years".More news: Chargers' Antonio Gates Issues Statement Regarding His Retirement
He adds that renewable energy solutions are affordable, readily available and deployable at scale.
"Savings could amount to between $ 1.6 trillion and $ 3.7 trillion per year by 2030, three to seven times higher than investment costs for energy transformation", the report said. IRENA reported that technological costs are plunging, with solar PV costs having fallen by nearly 90 per cent over the last 10 years, and onshore wind turbine prices falling by up to half in that period, allow for continuing development in this sector.
IRENA pointed out that solar PV costs have fallen by nearly 90% over the last 10 years and onshore wind turbine prices have fallen by up half in that period.More news: Five Liverpool players named in UEFA’s Team of the Year
That includes solar energy paths, wind energy, geothermal energy and the conversion of waste into energy. The cost of photo-voltaic solar power and wind energy could be consistently cheaper than conventional supplies by 2030, with the two renewable technologies meeting a third of global electricity needs, it said. "Therefore, the provision of capital to support the adoption of renewable energy is key to low-carbon sustainable economic development and plays a central role in bringing about positive social outcomes".
However, in order to advance a low-carbon future, Irena says the organisation will further promote knowledge exchange, strengthen partnerships and work with all stakeholders, from private sector leaders to policy makers, to catalyse action on the ground. "We know it is possible", he concluded, "but we must all move faster".More news: Smoke from Aussie bush fires set to circle earth, says Nasa