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Accelerating renewable energy development: an opportunity for Europe Energy and Managing Authorities Network (EMA) meeting Brussels, May 21, 2019 Ricardo Gorini – Programme Officer Renewable Energy Roadmaps REmap, IRENA Innovation and Technology Centre

Accelerating renewable energy development: an opportunity ... · Accelerating renewable energy development: an opportunity for Europe. Energy and Managing Authorities Network (EMA)

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Page 1: Accelerating renewable energy development: an opportunity ... · Accelerating renewable energy development: an opportunity for Europe. Energy and Managing Authorities Network (EMA)

Accelerating renewable energy development:an opportunity for Europe

Energy and Managing Authorities Network (EMA) meetingBrussels, May 21, 2019

Ricardo Gorini – Programme Officer Renewable Energy Roadmaps

REmap, IRENA Innovation and Technology Centre

Page 2: Accelerating renewable energy development: an opportunity ... · Accelerating renewable energy development: an opportunity for Europe. Energy and Managing Authorities Network (EMA)

Renewable energy and energy efficiency can provide over 90% of the reduction in energy-related CO2

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Annual energy-related CO2 emissions under current and planned policies –the Reference Case – are expected to remain flat but must be reduced by 70% to bring temperature rise to the well-below 2°C climate goal as in the REmap Case.

Electrification, renewable energy and energy efficiency measures provide over 90% of the reductions required by 2050. Renewable power and electrification of heat and transport alone reduce emissions by 75%.

Note: “Renewables” implies deployment of renewable technologies in the power sector (wind, solar PV, etc.,) and end-use direct applications (solar thermal, geothermal, biomass). “Energy efficiency” contains efficiency measures deployed in end-use applications in industry, buildings and transport sectors (e.g., improving insulation of buildings or installing more efficient appliances and equipment). “Electrification” denotes electrification of heat and transport applications, such as deploying heat pumps and EVs.

Page 3: Accelerating renewable energy development: an opportunity ... · Accelerating renewable energy development: an opportunity for Europe. Energy and Managing Authorities Network (EMA)

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Renewables are becoming competitive in a broad set of conditions. Cost improvements expected to continue…

IRENA costing database of 15,000 large scale RE power projects and 1.5 million rooftop PV systems

Covering half of all existing and planned RE capacity

Page 4: Accelerating renewable energy development: an opportunity ... · Accelerating renewable energy development: an opportunity for Europe. Energy and Managing Authorities Network (EMA)

Solar and wind power are at the core of the Global Energy Transformation

Source: IRENA (2018), Global Energy Transformation: A roadmap to 2050

Wind and PV electricity share in generation mix 2015 and 2050

3%Solar PV (today)

36%Wind(2050)

22%Solar PV

(2050)

7%Wind

(today)

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Page 5: Accelerating renewable energy development: an opportunity ... · Accelerating renewable energy development: an opportunity for Europe. Energy and Managing Authorities Network (EMA)

Electricity consumption in transport would rise to 43% and in buildings 68% of sector energy by 2050.

Of that electricity, 86% of would come from renewable sources.5

A transformed energy system: Scaling up renewables not just for power, but also for heat and transport

Note: Hydrogen in transport and industry sectors is included in electricity part. “Non-renewable” includes direct uses of fossil fuels (e.g., for heating, cooking, transport, etc.,).

Page 6: Accelerating renewable energy development: an opportunity ... · Accelerating renewable energy development: an opportunity for Europe. Energy and Managing Authorities Network (EMA)

Three system trends and four dimensions of innovation

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Page 7: Accelerating renewable energy development: an opportunity ... · Accelerating renewable energy development: an opportunity for Europe. Energy and Managing Authorities Network (EMA)

The REmap Case increases investments in the global energy system by USD 15 trillion, and shifts investment into electrification, renewable energy and energy efficiency technologies, which together,

would make up four-fifths of the cumulative energy sector investments over the period to 2050.

Shifting investments to energy efficiency, renewables and the electrification of heat and transport

7Notes: *includes nuclear, carbon capture and storage (CCS); **includes investments in power grids, energy flexibility, electrification of heat and transport applications as well as renewable hydrogen. USD value in 2015.

Page 8: Accelerating renewable energy development: an opportunity ... · Accelerating renewable energy development: an opportunity for Europe. Energy and Managing Authorities Network (EMA)

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The European Union can double its current share of renewables to reach 34% by 2030

Page 9: Accelerating renewable energy development: an opportunity ... · Accelerating renewable energy development: an opportunity for Europe. Energy and Managing Authorities Network (EMA)

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• EUR 21 billion/year savings in terms of energycosts by 2030.

• Savings total EUR 44-113 billion per year by2030, when reduced externalities from CO2emissions and improved air quality areconsidered.

• Additional investments of EUR 368 billion until2030 (estimated average investment inrenewable energy of around EUR 62 billion/year)

Accelerating renewables in the European Union makes economic sense

Page 10: Accelerating renewable energy development: an opportunity ... · Accelerating renewable energy development: an opportunity for Europe. Energy and Managing Authorities Network (EMA)

Candidate areas for investment of EU cohesion funds to accelerate the energy transformation

Icons made by Freepik from www.flaticon.com

Acceleration of building renovation.

Support for transformation of heat market towards renewable solutions:

Electrification with efficient heat pumps.

Solar thermal. Biomass.

Deployment of charging infrastructure for electrification of road transport.

Renovation of public transport assets.

Modal shift towards (electric) rail, both passenger and freight.

Acceleration of renewable generation capacity deployment.

Upgrade of transmission and distribution systems.

Support for socially-conscious phase-out of coal.

Risk mitigation and leverage of private capital. Project development support.

Capacity building and competitiveness of domestic industries.

Page 11: Accelerating renewable energy development: an opportunity ... · Accelerating renewable energy development: an opportunity for Europe. Energy and Managing Authorities Network (EMA)

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All REmap studies and other IRENA publications are available for download from http://www.irena.org