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Renewables Competitiveness Accelerates, Despite Cost Inflation
The fossil fuel price crisis has accelerated the competitiveness of renewable power. Around 86 per cent (187 gigawatts) of all the newly commissioned renewable capacity in 2022 had lower costs than fossil fuel-fired electricity. Renewable Power Generation Costs in 2022,…
Three conditions that will help scale blended finance for nature-positive outcomes
“There is no pathway to limiting global warming to 1.5C without action on protecting and restoring nature,” wrote four architects of the Paris Agreement ahead of the COP15 UN biodiversity conference last December. “Achieving net-zero emissions by 2050 is only possible if…
It’s time for governments and industry to act on energy efficiency
Amid a global energy crisis, policy makers, industry executives and consumers are all talking about how to bring down the cost of energy and reinforce security of supply. Often that conversation focuses on energy source we should use. Discussions on…
The Clean Energy Economy is Gaining Ground, But Greater Efforts are Needed now to Get on Track for Net Zero by 2050
Despite encouraging signs of progress across a number of sectors, stronger efforts are needed to bring the world on track to reach net zero emissions by mid-century, according to the IEA’s latest appraisal of global progress on clean energy technologies.…
The World Needs More Diverse Solar Panel Supply Chains to Ensure a Secure Transition to Net Zero Emissions
Ensuring a secure transition to net zero emissions will require increased efforts to expand and diversify global production of solar panels whose global supply chains are currently heavily concentrated in China, the IEA said in a new special report released…
Surging Electricity Demand is Putting Power Systems Under Strain Around the World
Global electricity demand surged in 2021, creating strains in major markets, pushing prices to unprecedented levels and driving the power sector’s emissions to a record high. Electricity is central to modern life and clean electricity is pivotal to energy transitions,…
COP26 Climate Pledges Could Help Limit Global Warming to 1.8 °C, but Implementing Them Will Be the Key
At the COP26 Climate Change Conference taking place in Glasgow, a key question is what do all the new pledges by different countries to reduce emissions mean for global warming? This was a central question we addressed in the IEA’s…