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International Energy: The World Needs to Make Greater Efforts to Develop and Spread Clean Energy Technologies

Thursday

01-10-2020

A new report by the International Energy Agency affirmed that there is an urgent need to make greater efforts to develop and spread clean energy technologies around the world to meet international energy and climate goals, especially in order to reduce carbon emissions from areas outside the energy sector such as transport, buildings and industry. According to the report entitled "Energy Technology Outlook 2020", in light of global carbon emissions at unacceptably high levels, structural changes are required in the energy system to achieve the rapid and permanent reduction in emissions called for by the common global climate goals. "Converting the energy sector to clean energy will save the world only a third of the way to net zero emissions, which requires more attention to the transport, industry and buildings sectors, which today represent about 55%," the agency stated. Of carbon dioxide emissions from the energy system ”. According to the report, the greater use of electricity in these sectors - to operate electric vehicles, recycle metals, heat buildings and many other tasks - could make the largest single contribution to achieving net zero emissions, despite the need for many other technologies. Solar renewable energy sources are leading to new heights in markets around the world, as very low interest rates can help finance a growing number of clean energy projects, as more governments and companies throw their weight behind these vital technologies. The report also examined how to meet the challenge of long-term energy assets including inefficient coal power plants, steel mills and cement kilns, most of which were recently built in emerging Asian economies that could operate for decades to come.