IRENA: The epidemic led to economic recession, green energy may become the ticket for the global out of recession

RENA pointed out in a new report that economists predict that the crushing of the new crown epidemic on the global economy will lead to a severe recession, and the prosperity of solar energy, energy storage and other technologies will be "value for money", which will help the world reverse this A recession.

The analysis report released today said that from 2016 to 2050, it is expected that a total investment of US $ 130 trillion will be required for the “renewable energy-based energy transformation”, which is higher than the currently planned US $ 95 trillion. IRENA believes that for every dollar spent, the world can recover 3-8 dollars.

 IRENA said that compared with current policies, if the funding for green energy, energy efficiency, electrification and other fields can reach the recommended level, then the global economy will grow by 2.4% by 2050, and the global GDP will increase by the middle of the century 98 trillion dollars.

IRENA believes that the benefits are not limited to the economic category. Benefiting from the promotion of renewable energy, by 2050, its defined "welfare" (economic, environmental and social) will increase by 13.5%, carbon dioxide emissions will be reduced by 70%, and air quality and health will be improved.

Francisco La Camera, Director General of IRENA, said, "This crisis has exposed the deep hidden dangers of the current system. By accelerating the development of renewable energy and making energy transformation an integral part of a full recovery, governments can achieve multiple economic and social goals and commit To build a flexible, inclusive future. "

Global attention to the economic form dominated by renewable energy, with solar energy and energy storage becoming the focus

The transformation advocated by IRENA involves comprehensive changes in five areas: electrification of energy systems; flexible renewable energy supported by energy storage; traditional green energy (such as hydropower); green hydrogen energy and innovation.

In order to achieve the economic, environmental and social benefits promised by IRENA as much as possible, by 2050, the world needs to significantly increase (see below) the share of renewable energy power generation. Current policies are driving this share of growth.

The required ratio of green energy varies from region to region, with 95% in sub-Saharan Africa, 93% in Latin America and the Caribbean, 90% in East Asia, 86% in the European Union, 85% in North America, and 53% in the Middle East and North Africa.

Of all renewable energy sources, the development of solar energy is critical to the realization of IRENA's 2050 vision. The installed capacity of this technology needs to soar from the global forecast of 582GW in 2019 to 8.82TW in 2050, surpassing wind power (624GW-6.04TW) and hydropower (1.18TW-1.8TW).

Gaining flexibility through energy storage is another cornerstone of IRENA's energy transformation. By the middle of the century, global fixed systems must reach 9000GWh (higher than the 30GWh forecast for 2019), and more than 14,000GWh of electric vehicle batteries (previously expected to be 200GWh).

Editor: Esther

E-mail: esther@wanhos.com