This report benefited from contributions and review from a panel of experts: Frank Ackerman (Synapse Energy Economics, USA), Barbara Breitschopf (Fraunhofer Institute, Germany), Vaibhav Chaturvedi (Council on Energy, Environment and Water, India), Paul Ekins (Institute for Sustainable Resources at University College London, UK) and Sgouris Sgouridis (Masdar Institute, UAE). The E3ME results and analysis were provided by: Hector Pollitt, Eva Alexandri and Ana GonzalezMartinez (Cambridge Econometrics, UK). Valuable input was also received from: Henning Wuester, Elizabeth Press, Sakari Oksanen, Dolf Gielen, Deger Saygin, Nicholas Wagner, Paul Komor, Michael Taylor, Ruud Kempener, Asami Miketa, Shunichi Nakada and Fatma BenFadhl (IRENA) and Imen Gherboudj (Masdar Institute, UAE). IRENA would like to extend its gratitude to the Government of Germany for supporting this publication.
Renewable Energy Benefits: Measuring the Economics provides the first quantification of the macroeconomic impact of doubling the global share of renewables in the energy mix by 2030. The adoption of the Sustainable Development Goals and the Paris Agreement sent a clear message that the transition to sustainable energy is central to meeting development and climate objectives. As policy makers consider options at their disposal, understanding the socio-economic benefits of this transition is of vital importance. To inform international debate and facilitate sound decision-making, Renewable Energy Benefits: Measuring the Economics provides the first global analysis of the impact of renewable energy deployment on the economy and the interdependencies between sectors and markets. The study analyses the linkages between the energy system and the world’s economies within a single quantitative framework. It builds on IRENA’s previous work on the socioeconomic benefits of renewable energy and IRENA’s roadmap for doubling the global share of renewables, REmap 2030. It finds that, within the timeline of the Sustainable Development Goals, renewable energy can o¨er solutions for the dual objective of ensuring economic growth and the imperative to decarbonise economies across the globe. Accelerating the deployment of renewable energy will fuel economic growth, create new employment opportunities, enhance human welfare, and contribute to a climatesafe future. Advances in renewable energy technologies and growing cost-competitiveness have strengthened the business case of renewables and opened new opportunities for countries to transform their energy systems. This study demonstrates that the benefits of scaling up renewable energy surpass cost competitiveness. Increased deployment can meet the energy needs of a growing population, drive development and improve well-being, while reducing greenhouse gas emissions and increasing natural resource productivity. It provides empirical evidence that economic growth and environmental conservation are fully compatible, and that the conventional consideration of trade-o¨s between the two is outdated and erroneous.
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