Renewable energy spending needs to double by 2030, Irena says

National governments need to double their investments in renewables, according to Irena. "Renewable energy solutions are affordable, readily available and deployable at scale," the agency's director-general says.

Photo: Regis Duvignau/Reuters/Ritzau Scanpix

Governments should double total investment in solar, wind and other green technologies over the next decade to achieve "a pathway to climate safety," the International Renewable Energy Agency (Irena) said.

Renewables should generate 57 percent of electricity worldwide by the end of the decade, up from 26 percent today, Irena said in a statement on Sunday. To reach that target, countries can redirect some of the USD 10 trillion earmarked for fossil-fuel projects and spend it on green power instead, the inter-governmental group said.

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