Renewable energy data resource launched at assembly

The Assembly discusses IRENA’s strategic and programmatic direction in the context of its longer-term vision to promote the uptake of renewable energy, and examine the issues countries face in transitioning to a sustainable energy future. Guest speakers include Kandeh Yumkella, Special Representative, UN Secretary General and Chief Executive, Sustainable Energy for All initiative; Christian Bach, Executive Secretary, United Nations Economic Commission for Europe; Shamshad Akhtar, Executive Secretary, United Nations Economic and Social Commission for Europe and Fernando Ferreira, Executive Secretary, Latin America Energy Organisation.

Highlights of the Assembly include the launch of IRENA reports including ‘Renewable Power Generation Costs 2014’ and ‘Renewable Energy in the Water, Energy & Food Nexus’; the announcement of five renewable energy projects in developing countries and an invitation-only event with the Financial Times, titled ‘Innovation, Technology, Business and the Future of Renewable Energy’.

‘Renewable Power Generation Costs 2014’ concluded that the cost of generating renewable energy has reached parity or dropped below the cost of fossil fuels for many technologies in many parts of the world. The report concludes that biomass, hydropower, geothermal and onshore wind are all competitive with or cheaper than coal, oil and gas-fired power stations, even without financial support and despite falling oil prices. Solar PV is leading the cost decline, with solar PV module costs falling 75% since the end of 2009 and the cost of electricity from utility-scale solar PV falling 50% since 2010.

REsource, an online knowledge platform, was also launched at the Assembly. REsource enables users to easily find country-specific data, create customised charts and graphs, and compare countries on metrics like renewable energy use and deployment. It also provides information on renewable energy market statistics, potentials, policies, finance, costs, benefits, innovations, education and other topics.

For 1.3bn people worldwide without electricity, renewables are the cheapest source of energy. Sustainable sources offer massive gains in cost and security for islands and other isolated areas reliant on diesel. Thanks in large part to the clear business case for renewables, a record high of 120GW of renewable energy was added to the mix in 2013, with similar additions forecast for 2014. Renewable energy accounted for 22% of global electricity generation and 19% of total final energy consumption in 2013.

“Now is the time for a step-change in deployment for renewables,” said Adnan Z. Amin, Director-General, IRENA. “It has never been cheaper to avoid climate change, create jobs, reduce fuel import bills and future-proof our energy system. This requires public acknowledgement of the low price of renewables, an end to fossil fuel subsidies and regulations and infrastructure to support the global energy transition.”

The report goes on to explain that renewable energy price improvements are not universal, and that costs range widely according to resources and the availability of financing. Offshore wind and concentrated solar power technologies are in earlier stages and deployment costs remain high, however these are likely to become more cost-competitive in future.

“The story of renewables is rapidly evolving and as the importance of renewable energy grows, so does the relevance of the Agency’s work. The 2015 Assembly is a pinnacle for the Agency and its future work,” said Mr. Amin. “Renewable energy projects are matching or outperforming fossil fuels, particularly when accounting for local pollution, environmental damage and ill health. The game has changed; the plummeting price of renewables is creating an historic opportunity to build a clean, sustainable energy system and avert catastrophic climate change affordably.”

Amin continued; “The continued growth of the renewable energy industry has outpaced the information available to monitor and analyse the sector. REsource now provides a strategic window into these trends and developments. By providing access to information and data in one centralised location, REsource aims to improve decision-making, increase investor confidence and accelerate deployment of renewable technologies. Having accurate information in the future depends on today’s ability to predict growth paths and implement monitoring instruments to capture this growth. REsource will allow us to capture the renewable energy markets of today and tomorrow.”

“I strongly hope that IRENA will play a central role in leading the world to leverage the full potential of renewable energy and thus help the world balance economic growth and the mitigation of climate change,” added H.E. Yoichi Miyazawa, Japanese Minister of Economy, Trade and Industry and Co-President of the Assembly. “The IRENA Assembly offers an unmatched international platform to discuss the challenges and solutions of global adoption of renewable energy.”

“We’re determined to take a leading role in the field of renewable energy, while enhancing cooperative relations with IRENA,” commented H.E. Yasuhide Nakayama, State Minister for Foreign Affairs of Japan and Co-President of the Assembly.