Five technology pillars for a sustainable energy future: IRENA

As governments worldwide roll out new policies to address the impact of COVID-19, the pandemic could be an opportunity for countries to accelerate the shift to a sustainable energy future.

Governments can turn to a renewables-based energy transition to meet sustainability goals while boosting economic growth, says the International Renewable Energy Agency (IRENA) in its Global Renewables Outlook: Energy Transformation 2050 report. 

According to IRENA, transforming the energy system could help boost cumulative global GDP gains above business-as-usual by USD 98 trillion between now and 2050. Another socio-economic benefit is that jobs in the renewables sector are expected to increase to 42 million globally by 2050.

The report highlights the five technology pillars paving the way to a successful energy transition:

1. Electrification: Renewable power generation is setting records in low costs, and will be increasingly cost-competitive as compared to fossil-based and nuclear power alternatives. The electrification of more end uses, such as in the transport sector with the growth in the number of electric vehicles, will drive increased power demand which can be met by renewables
2. Increased power system flexibility: Flexibility in power systems is pivotal for countries to integrate a high share of variable renewable energy (VRE). According to IRENA, higher levels of flexibility can be achieved through measures such as grid expansion and operational measures, demand-side flexibility and sector coupling.
3. Conventional renewable sources: Hydropower, bioenergy, solar thermal, and geothermal renewable energy are some of the key technologies that have the significant scale-up potential required to meet future demands of the global energy system.
4. Green hydrogen: As a potential zero-carbon alternative to fossil fuels, hydrogen can provide a viable solution for energy demands that are difficult to directly electrify. With the falling cost of renewables, certain energy-intensive industries may tap into the potential of green hydrogen produced by renewable electricity through electrolysis.
5. Fostering innovation in challenging sectors: For sectors such as freight, shipping and aviation, advances in biofuels, synthetic fuels, new materials and the circular economy will be vital to address decarbonisation goals. 

The report further outlines key actions countries can take to reduce emissions and promote change conducive to a global energy transformation: 

• Transform the power sector to accommodate growing shares of VRE
• Promote digitalisation as a key enabler to amplify the energy transformation
• Accelerate the electrification of the transport and heating sectors 
• Adopt hydrogen produced from renewable electricity to help reduce fossil fuel reliance in challenging sectors 
• Develop biomass supply chains to meet the growing demand for sustainable bioenergy

Read the full report, Global Renewables Outlook: Energy transformation 2050, for more insights into the investment strategies and policy frameworks needed for a renewables-based energy transition.