The International Renewable Energy Agency (IRENA) has released the Renewable Power Generation Costs in 2019 report, which finds that renewable electricity costs have fallen sharply over the past decade, driven by improving technologies, economies of scale, increasingly competitive supply chains and growing developer experience.
New report “Future of Solar Photovoltaic” launched by the International Renewable Energy Agency (IRENA) at “Sun World 2019” event, which took place from November 12 to 14 in Peru, finds that by 2050 solar PV would represent the second-largest power source behind wind, generating a quarter of the world’s power. In total, global solar power capacity would rise from 480 GW in 2018 to over 8000 GW by 2050, growing by nearly 9 per cent every year, report finds.
The renewable energy industry created more than 500,000 new jobs globally in 2017, a 5.3 per cent increase from 2016, according to the latest figures released by the International Renewable Energy Agency (IRENA) in the fifth edition report Renewable Energy and Jobs – Annual Review 2018, launched at IRENA’s 15th Council which took place in Abu Dhabi from 8 to 9 May 2018. The report states that the total number of people employed in the sector (including large hydropower) now stands at 10.3 million globally, surpassing the 10 million figure for the first time.
New IRENA report finds all renewable technologies to be competitive by 2020. The cost of generating power from onshore wind has fallen by around a quarter since 2010, with solar photovoltaic (PV) electricity costs falling by 73 per cent in that time, according to new cost analysis from the International Renewable Energy Agency (IRENA).