The energy transition will require a scaleup in investment to meet net zero by 2050
Hydrogen deployment ‘off track’ to meet net zero – Irena
The sector will need $170bn/yr in investment by 2050 for energy system to be consistent with 1.5°C limit to warming, says association
The energy transition is not on track to meet net-zero emissions by 2050 and limit global temperature increase to 1.5°C, warns the International Renewable Energy Agency (Irena) in a preview of its World Energy Transitions Outlook 2023 report. In addition to renewable energy capacity, electric vehicle rollout and CCS, hydrogen is highlighted as a sector that has significant gaps between current trends and the scale of development needed for a net-zero energy system. Irena expects electricity to be the main energy carrier in its 1.5°C scenario, accounting for more than half of final energy consumption, while hydrogen and its derivatives account for 14pc. “We simply cannot continue with i
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