Global reports call for renewables to lead a green recovery from Covid-19

Renewable Power Generation Costs in 2019 was released on June 2 by the International Renewable Energy Agency (IRENA), showing that “more than half of the renewable capacity added in 2019 achieved lower power costs than the cheapest new coal plants.” The analysis spans around 17,000 renewable power generation projects from around the world, and includes discussion of job impacts in the industry. A statistical dashboard is searchable by country  , including Canada, and by jobs statistics.

The report emphasizes the importance of renewables in a global economic recovery strategy, stating:

“Renewables offer a way to align short-term policy action with medium- and long-term energy and climate goals.  Renewables must be the backbone of national efforts to restart economies in the wake of the COVID-19 outbreak. With the right policies in place, falling renewable power costs, can shift markets and contribute greatly towards a green recovery.”

On June 10, the Global Trends in Renewable Energy Investment report was released by the U.N. Environment Programme, with a press release  with a similar message:  “As COVID-19 hits the fossil fuel industry, the GTR 2020 shows that renewable energy is more cost-effective than ever – providing an opportunity to prioritize clean energy in economic recovery packages and bring the world closer to meeting the Paris Agreement goals. ….. In 2019, the amount of new renewable power capacity added (excluding large hydro) was the highest ever, at 184 gigawatts, 20GW more than in 2018.” The 80-page Global Trends in Renewable Energy Investment  is an annual report commissioned by the UN Environment Programme in cooperation with Frankfurt School-UNEP Collaborating Centre for Climate & Sustainable Energy Finance, produced in collaboration with Bloomberg NEF, and supported by the German Federal Ministry for the Environment, Nature Conservation, and Nuclear Safety.

The argument for the cost advantage of clean energy is demonstrated with detailed modelling for the United States by researchers at the University of California Berkeley Goldman School of  Public Policy. Their new report,  2035: The Report: Plummeting solar, wind and battery costs can accelerate our clean electricity future  “uses the latest renewable energy and battery cost data to demonstrate the technical and economic feasibility of achieving 90% clean (carbon-free) electricity in the United States by 2035. “The 90% Clean case avoids over $1.2 trillion in health and environmental costs, including 85,000 avoided premature deaths, through 2050”… and “ supports a total of 29 million job-years cumulatively during 2020–2035. ….These jobs include direct, indirect, and induced jobs related to construction, manufacturing, operations and maintenance, and the supply chain. Overall, the 90% Clean case supports over 500,000 more jobs each year compared to the No New Policy case.”

renewables 2020Another report,  Renewables 2020 Global Status Report   was released by REN21 on June 16, with a  36-page summary of Key Findings . The report provides detailed global statistics re capacity and investment trends, and  also discusses the considerable impact of the coronavirus. There is much good news – for example, over 27% of global electricity now comes from renewables, up from 19% in 2010…. The share of solar photovoltaic (PV) and wind power has grown more than five times since 2009” .  But there is also an urgent call to end fossil fuel subsidies and for other policy actions under the heading: “Momentum in renewable power hides a profound lag in the heating, cooling and transport sectors”.  The report states:

“It would be short-sighted to celebrate advances in the power sector without acknowledging the alarmingly low shares and slow uptake of renewables in the heating, cooling and transport sectors. …. Renewable shares in heating and cooling are low (10.1%) and struggle to increase, even as the sector accounts for more than half of total energy demand. Similarly, energy demand in transport – which accounts for a third of total energy demand – is growing the fastest by far, yet renewable shares barely exceed 3.3%. Ongoing dependence on fossil fuels for heating, cooling and transport is related to a lack of policy support for renewables in these sectors. There is still no level playing field. Many countries continue to uphold fossil fuel subsidies, which in 2018 increased 30% from the year before. Global fossil fuel subsidies totalled USD 400 billion, more than double the amount that governments spent on renewable power. ….. The massive support for fossil fuels hinders the already difficult task of reducing emissions and must be brought to a halt. “ In 2019, a record 200 gigawatts (GW) of renewable power capacity was added, more than three times the level of fossil fuel and nuclear capacity. Over 27% of global electricity now comes from renewables, up from 19% in 2010.– a remarkable rise attributed largely to continued cost declines for these technologies.”

On  June 11, the U.S.  Solar Energy Industry Association released its Solar Market Insight Report for the 2nd Quarter of 2020, forecasting a 31% drop in solar installations in 2020 over 2019, mostly  as result of Covid-19.   The SEIA  press release estimates that 72,000 workers in the U.S. have lost their jobs .  The Executive Summary  discusses the impact of the coronavirus extensively; only the Executive Summary is available for free. The report analysis is done by Wood MacKenzie consultants, and the full report is pricey.

1 thought on “Global reports call for renewables to lead a green recovery from Covid-19

  1. Pingback: Global reports call for renewables to lead a green recovery from Covid-19 — Work and Climate Change Report « Antinuclear

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