Global renewable energy sector needs $750B investments by 2030

Published onJanuary 16, 2020

The next decade is one of action. By 2030, investments into renewable energy projects should be doubled from $330 billion to $750 billion to achieve the objectives of energy transition and sustainable development goals, a top decision-maker said in Abu Dhabi. International Renewable Energy Agency (Irena) director-general Francesco La Camera stressed the need for stronger policies and more investment. He noted renewables should be central to energy and economic planning. “Renewables are most competitive way to produce energy. It could be the most effective way to give access to energy to population in remote and rural areas. But if you want to avoid consequences of climate change, we have to accelerate our task. We have to double our investment in renewables. We started having $50 billion investment at the start of the decade, now it is $330 billion and hope to achieve $750 billion goal [by 2030],” he told reporters during the 10th annual assembly of Irena.