In recent years, renewable energy has seen dramatic cost declines and large annual growth rates. While the share of renewable energy in the global fuel mix has grown, the total volume of energy produced from fossil fuels has increased as well. Are downward trends in cost enough on their own to spur more rapid growth of clean energy? What is the role for public policy, financing models, and innovation efforts across the renewable energy landscape?
On a new episode of Columbia Energy Exchange, host Jason Bordoff sits down with Adnan Amin, the Director General of the International Renewable Energy Agency, to discuss these and other questions. IRENA supports countries in their transition to a sustainable energy future and serves as a platform for international cooperation. Adnan has more than 25 years of experience in renewable energy, sustainable development, and environmental policy. He joined the Agency in 2010 as Interim Director General and in 2011 was elected as IRENA’s first Director General.
Adnan and Jason caught up to discuss IRENA’s mission and the future of renewables on the global market. Adnan discusses why policy still has an important role to play in the energy transition and provides his thoughts on 100% clean energy, EVs, and the role that renewables can play in emerging markets.
Other topics discussed include the continued threat of geopolitics, how utilities will need to adapt their business models to a low-cost electricity world, and the sustainability of China’s growth model.
It has now been just over a year since the US signed into law the Inflation Reduction Act and already, it has been followed by more than US $110 billion in clean energy investments.
Rising debt levels and the ravages wrought by climate change present acute threats to achieving sustainable development goals in emerging market and developing economies.
As the world races to transition to cleaner energy sources, there exists a substantial gap between the financing required for this transition and the actual investments being made.