ability to clean energy has grown in record time in 2019, finds UN report. But it also needs to grow faster

The ability of the world’s renewable energy has grown faster than ever last year assessed in the light, while the cost of new capacity has dropped to a record low, a report says the environmental program of the United Nations on June 10 researchers who released in 2019 found, governments and businesses created 184 gigawatts (GW) of new renewable energy capacity 12% more than was grown in the sector despite investments by only 1% in 2018. This increase was added, to $282.2 billion dollars, importance of clean energy capacity was cheaper per watt create. (The report does not include the older technology of large dams because such projects are not subject to the same market dynamics as new renewable sources and their time scales long development make it difficult investment measure accurately.) Renewable energy, such as wind and solar energy is getting cheaper thanks to improving technology, increasing economies of scale and strong competition in the sector. For example, in the second half of 2019 it cost 83% less to produce electricity from solar plants, which have made 10 years earlier, according to the report. It generates more electricity from renewable sources-which, unlike fossil fuels, not the heat does not emit greenhouse gases such as carbon dioxide in the atmosphere falling Earth is important to avoid the worst impacts of climate change. Currently it produced 13.4% of global electricity from renewable sources. This is, however, to make up from 12.4% in 2018 and 5.9% in 2009, according to the United Nations in the race to hold the 2015 targets with the Paris Agreement, keep global average temperatures to rise more 2 ° C compared to pre-industrial level, we would add 2,030 new non-hydro renewable energy capacity, according to the report around 3,000 GW. So far, countries and companies have pledged to only add 826 GW of new capacity of non-hydro renewable energy, probably $1 Katherine 2030 costs, the report finds. The report’s authors write that would solve the “lack of ambition” for future investments are hoping the COVID-19 stimulus packages available pandemic deal with the economic impact of governments. Since the pandemic began, climate activists must avoid for stimulus packages, press the support fossil fuel industry, which sank as global energy demand has fallen. Instead directed to clean energy and low-carbon industry, many want to be state funds and loans. The staff of the E.U. and China, as well as head of the International Monetary Fund and the World Bank, has promised to do to combat climate change at the heart of their plans. In the United States, President Donald Trump additional support, however, promised for the oil and gas industry. “The collapse of the fossil fuel industry because of the combined COVID-19, clean, has demonstrated in this period with the energy elasticity has done, remove that clean energy is a smart investment,” say the authors report . “If the governments of the benefits of ever falling price of renewable energies take clean energy at the center of COVID-19 economic recovery to put … .they can take a big step towards clean energy and a healthy nature.”
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