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Global solar power capacity expected to rise from 480 GW in 2018 to over 8000 GW by 2050, IRENA report finds

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.

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Costs for renewable energy technologies decreased to a record low in 2018, IRENA report says

Renewable power is the cheapest source of electricity in many parts of the world already today, the latest report Renewable Power Generation Costs in 2018 from the International Renewable Energy Agency (IRENA) shows.

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Solar PV industry created close to 3.4 million jobs globally in 2017 surpassing other renewable technologies, IRENA report says

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.

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Solar PV costs are expected to halve by 2020, IRENA report says

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).

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Renewables could reduce Thailand’s energy system costs by $9 billion annually by 2036

With a stronger and more ambitious energy development plan, Thailand’s share of renewable energy in total final energy consumption could surpass its national target by a quarter and reach more than 37 per cent by 2036, according to a new report published by the International Renewable Energy Agency (IRENA) and the Ministry of Energy of Thailand.

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