New analysis shows how cheap renewables and flexible demand could replace more than half of European coal and gas generation by 2030, while reducing system cost and almost doubling emissions savings from the power sector, compared to current plans.
European Investment Bank (EIB) and Europe’s leading National Promotional Banks announces the launch of Marguerite II, a pan-European infrastructure fund with total commitments in excess of EUR 700m, ensuring continued support to key infrastructure investments in renewables, energy, transport and digital infrastructure by the Marguerite platform.
“Global Trends in Renewable Energy Investment 2016“, the 10th edition of UNEP’s annual report, launched today by the Frankfurt School-UNEP Collaborating Centre for Climate & Sustainable Energy Finance and Bloomberg New Energy Finance (BNEF), says the annual global investment in new renewables capacity, at $266 billion, was more than double the estimated $130 billion invested in coal and gas power stations in 2015.
Doubling the share of renewables in the global energy mix by 2030 can save up to USD 4.2 trillion annually by 2030, according to a new report by the International Renewable Energy Agency (IRENA). Savings would be up to 15 times higher than costs, thanks to avoided expenditures on air pollution and climate change.