Renewables providing one-fifth of electricity in 20 countries: Report

Renewable energy expansion has spillover benefits of improved energy security and access as well

In twenty countries worldwide, renewable energy is now providing 20% or more of electricity, according to a new report by Zero Carbon Analytics. Ten years since the Paris Agreement was signed, the installed renewable electricity capacity has increased 2.4 times globally.

According to the report, wind and solar now power half of the Netherlands’ electricity needs, compared to 11% a decade ago. Chile has shown better progress, as renewables provide electricity to nearly three-fourths of homes and businesses now. 

The report found that solar is nearly 80% cheaper, while clean-energy jobs have nearly doubled to 16.2 million. Annual clean-energy investment has climbed to $2.2 trillion—twice that of fossil fuels.

Considering that damages caused by climate change are increasing drastically every year, renewables growth is now more important than ever. The report cited that damages caused by the world’s biggest fossil fuel companies already exceed $28 trillion.

“One can say that Paris has already reduced future risks for people and ecosystems—fewer extreme heat events, lower sea-level rise, and less pressure on vulnerable communities than in a 3-4°C world. The 1.5°C limit and the net zero goal has shaped policy, finance, litigation and sectoral rules. Action has slowed in the last four years, as the impacts have grown, and we are still a long way from 1.5°C.  So while the Paris Agreement has bent the curve and begun rewiring the system, our future now depends on whether governments will begin moving forward again at the rate and scale needed to finish the job,” said Bill Hare, CEO, Climate Analytics.

Electricity access through renewables

There are benefits to this renewable energy expansion as well through improved energy security and access. The report found that increased solar energy has reduced the dependence on fossil fuel imports in island nations like the Cook Islands, Kiribati and Martinique. 

On the other hand, renewables accounted for 70% of new electricity capacity in Liberia. This helped people in the country gain access to electricity, and twice the number of people have electricity now as compared to a decade back. 

“Ten years on, the Paris Agreement has already reshaped the global economy and set in motion a shift towards clean energy that no country can now ignore. This is opening new possibilities for development, energy security and more prosperous, healthier societies. Today the task is to protect the cooperative spirit that made Paris possible, because most countries still want to move forward – and they know the world is better for it,” said Laurence Tubiana, CEO, European Climate Foundation.

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