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Add to Preferred SourcesCountries at the forefront of the energy transformation are getting more than a third of their energy from variable renewables like solar and wind, and they’re doing it in a cost-effective manner. By making use of innovative solutions that allow integrating a higher share of renewables into power systems, innovation holds the key to a cost-effective global energy transformation.
These findings come from a first-of-a-kind mapping and analysis of innovations that will transform the power sector, launched by the International Renewable Energy Agency (IRENA) in Brussels. The report “Innovation Landscape for a Renewable-Powered Future: Solutions to integrate variable renewables” contains the most in-depth assessment of the power sector transformation to date. It shows how synergies between different innovative solutions in business models, market design, enabling technologies and system operation are lowering the cost of integrating high shares of variable renewable energy (VRE) while making energy production, transmission and consumption more flexible and empowering a new generation of energy consumers.
Decarbonising the global power sector in line with the Paris Agreement objectives will require an 85% share of renewable energy in total electricity generation by 2050, IRENA’s 2050 Roadmap estimates. By then, variable renewables would account for 60% of the total power generated globally.
“Europe has shown tremendous leadership in initiating the system-wide innovations needed to support the widespread adoption of renewables and decarbonise the global economy”, said IRENA Director-General Adnan Z. Amin. “The region’s success shows us that innovation is creating an energy transformation that is technically feasible and economically attractive. Innovation is the engine powering the energy transition and the global pace of innovation is accelerating. IRENA’s new report will provide a clear, navigable and comprehensive guide on innovations being piloted around the world, aiming to support informed decision-making by all countries to deploy low-cost renewables and accelerate the global energy transition further.”
The new report identifies 30 key innovations and 11 innovative solutions in development by pioneering companies and backed by far-sighted governments around the world.
Read and download the report “Innovation Landscape for a Renewable-Powered Future: Solutions to integrate variable renewables”
Original source: IRENA
Published on 19 February 2019