// Adds dimensions UUID, Author and Topic into GA4
Friday, June 12, 2026
26.1 C
Singapore
type here...
Photo: Freepik/freepik (for illustration purposes only)
InternationalBusiness
Less than 1 min.Read

Renewable energy to power 91% of global electricity by 2050, says IRENA

Mary Alavanza
By Mary Alavanza

Renewable energy is projected to make up 91% of global electricity by 2050, driven mainly by solar photovoltaics and wind power, according to The Asian Business Review, citing the International Renewable Energy Agency (IRENA).

The agency said this puts large-scale renewable projects and the connection of major energy consumers at the centre of the energy transition.

Despite a record 582 gigawatts (GW) of new renewable power capacity added in 2024, IRENA warned that the world still faces a significant gap in reaching the global target of 11.2 terawatts of renewable capacity by 2030, with infrastructure delays and inefficiencies in power grids remaining as challenges to meet these goals.

According to IRENA, about US$670 billion in investment is needed every year from this year to 2030 to strengthen such facilities.

It also noted that slow domestic permitting processes remain the greatest barrier to building new transmission lines, while supply chain issues add further challenges across both developed and developing economies.

IRENA said these challenges highlight the urgent need for market reforms, workforce upskilling, and de-risking investment, along with efforts to expand global manufacturing capacity. /TISG

Read also: Singaporeans aware of climate risks but worry about higher bills from renewable energy shift: Ipsos study

- Advertisement -
Google News Follow Google News WhatsApp Join us on WhatsApp Telegram Follow us on Telegram

Hot this week

Domestic Helpers

Maid dares employer to send her back to the agency, then begs to keep her job

SINGAPORE: One helper's gamble appears to have backfired after she dared her employer to “send her back to the agency” if she was unhappy with her work. Instead of brushing off the remark, the em...
Singapore Politics

Alexis Dang says WP volunteers have visited 10,000 households in Punggol

"While 10,000 households may sound like a lot, the road ahead is still a long one. We will continue to press on, work hard, and walk the talk. Most importantly, we look forward to meeting many more...

Popular Categories

Singapore NewsFeatured NewsSG EconomySingapore PoliticsLifestyleCelebrityInternational
document.addEventListener("DOMContentLoaded", () => { const trigger = document.getElementById("ads-trigger"); if ('IntersectionObserver' in window && trigger) { const observer = new IntersectionObserver((entries, observer) => { entries.forEach(entry => { if (entry.isIntersecting) { lazyLoader(); // You should define lazyLoader() elsewhere or inline here observer.unobserve(entry.target); // Run once } }); }, { rootMargin: '800px', threshold: 0.1 }); observer.observe(trigger); } else { // Fallback setTimeout(lazyLoader, 3000); } });

The Independent SG

Also Visit

Social Media

© The Independent Singapore

// //
Enable Notifications OK No thanks