• Monday, July 22, 2024
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Renewable energy to provide over 65% of global electricity by 2030

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Renewable energy will provide 65 percent of global electricity supply by 2030, up from more than 25 percent in 201, according to Francesco La Camera, Director-General, International Renewable Energy Agency (IRENA).

La Camera made this known while presenting the key highlights from IRENA’s recently launched World Energy Transitions Outlook 2022 in the just concluded “Our Oceans” conference in Palau, a Pacific island nation in the western Pacific.

He emphasized the importance of swift climate action and the necessity to expand renewable energy installations.

“The 1.5℃ goal is going to vanish soon if we do not dramatically change the way we do business,” he said. Adding that, “the world needs to urgently work toward replacing coal with renewables and increase the deployment of renewables by three times every year.”

Meanwhile, speaking at a sideline high-level panel discussion themed Creating Sustainable Blue Economies, La Camera said for sustainable development in Small Island Developing States (SIDS) and other vulnerable island nations, the development of the ocean economy holds considerable promise.

According to the World Bank, the blue economy is the sustainable use of ocean resources for economic growth, improved livelihoods, and jobs while preserving the health of the ocean ecosystem.

The director-general stated that offshore renewables can play a key role in harnessing the benefits of the blue economy for SIDS.

Read also: Nigeria’s renewable energy capacity hits 2,154MW in 2021

“Offshore renewables can benefit all sectors of the economy, including tourism, shipping, aquaculture, agriculture, and water desalination,” he said.

In addition, he stated that scaling up offshore renewables such as wind, wave, and tidal energy could provide significant benefits for small island nations in terms of climate change mitigation as well as reducing reliance on fossil fuel imports.

“Offshore energy systems are well suited to be located near aquaculture farms, as these often consist of a floating structure that is commonly tethered to the seafloor, which could be directly integrated into the aquaculture system,” he added, citing successful case studies from France and Scotland.

La Camera also claimed that in recent years, numerous small island governments have shown a growing interest in utilizing the benefits of maritime energy technologies.

“We are seeing an increasing number of islands in the Caribbean and Pacific establish strategies and conduct feasibility studies to incorporate offshore renewables into their national energy plans.

“There has never been a better time for renewable energy deployment and development to drive the ocean economy of SIDS, in an achievable and sustainable manner,” he added.