Will cheaper renewable energy accelerate the green transition in 2021?

Posted on 19 Jan 2021

The UN Development Programme (UNDP) is convinced that despite the pandemic, green and renewable energy will gain importance in 2021. An important aspect is the drop in the cost price of that green energy, which will sometimes even be cheaper than fossil fuels.

Combining lower price with innovation

There is no shortage of climate objectives worldwide. But their roll-out in the field is less smooth. It is not easy to offer clean and reliable energy at an affordable price. But UNDP sees light at the end of the tunnel: "Renewable energy is becoming more affordable every year. Some options are even cheaper than fossil fuels," it says. "Solar power is now the cheapest electricity in history." According to UNDP, we are at a tipping point for the further expansion of renewable energy due to a drop in the price for that green energy combined with innovative technologies that make it possible.

Deeds not words

Zero emissions is a much-heard ambition, from governments and businesses alike. But UNDP is calling for it to be time to put words into action. There is no lack of will, but actions are needed to move towards a zero-emission society. Still according to UNDP, renewable energy can provide three times more jobs than those in the fossil fuel industry. The switch from fossil fuels to green economic systems is still a major challenge, which will not be completed by 2021. The United Nations will therefore organise a world congress next September to encourage countries to step up a gear in their green transition.

 

Source:

https://news.un.org/en/story/2021/01/1081272

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