$131tn investment needed to increase renewables electricity production, eight times faster than at present rate by 2050, agency says.
International Renewable Energy Agency (Irena) latest report says that electricity will need to become the World’s most dominant source of energy and overtake fossil fuels to stop temperatures rising by 2050.
At present electricity accounts for 21% of the World’s total energy consumption but this will have to rise to more like 50-60%. This extra demand for electricity will need massive investment, up to $131tn by 2050. With governments preoccupied by bailouts and stimulus packages, will they honour there pledge to meet the Paris climate agreement?
We need to keep pressure on governments around the World to keep their commitments and investing in renewable energy that will be required to heat power and our homes in the future or risk a climate crisis. Clean energy is now the cheapest form of power so let’s start investing in it now.