- IRENA report: current renewable investment needs to double by 2020 and triple by 2030 to limit global temperature rise to below 2 degrees.
- Renewables 2016 Global Status Report revealed $13 billion increase in investment in 2014-2015.
- IRENA reported that the huge target is achievable.
A recent report by IRENA estimates that deploying renewables on the scale necessary to limit global temperature rise below 2 degrees would require current investment to double by 2020 and triple by 2030, to around US$ 900 billion annually.
Although this is a high target, progress has been made as revealed in the Renewables 2016 Global Status Report published by REN21 in June. This confirmed an increase in renewable energy investment last year, with approximately $286 billion invested in the sector in 2015 compared to $273 billion the previous year.
The statistics from the report reiterated the findings from Clean Energy Canada which outlined that developing countries had invested more money into clean energy in 2015 than developed countries, for the first time.
IRENA reported that the global target is achievable due to renewable energy’s increasing cost-competitiveness and on the condition that policies are put in place to attract more investment from the private sector.
Vergnet’s track record spans 25 years and includes successful hybrid energy solutions, solar applications and wind energy solutions installations across the globe including developing countries such as Mauritania, which holds the largest share of its GDP to renewable energy in the world. Vergnet’s energy counter, Vergnet Live, indicates the ever increasing amount of energy being produced by our solutions worldwide and highlights how Vergnet has been a key contributor in power generation for over twenty-five years.
With our advanced technology and expertise in providing tailored solutions for our customers, Vergnet has delivered sustainable and profitable energy infrastructures across Africa.
Find out more about our solar applications, wind energy solutions, and hybrid energy solutions or read our case studies to learn about our renewable solutions in action throughout the world.