Page 20 - IB JAN 2019

Energy

Costs tumble in renewable energy are positioned to gain the most from the
global energy transformation. No country
has put itself in a better position to become
the world’s renewable energy superpower
than China. In aggregate, it is now the
world’s largest producer, exporter and
installer of solar panels, wind turbines,
batteries and electric vehicles, placing
it at the forefront of the global energy
transition.
“China is by far the largest global
manufacturer of these clean energy
technologies (wind turbine components,
crystalline silicon PV modules, LED pack-
ages, and lithium-ion battery cells). In
addition, it leads the world in renewable
energy patents.”
On India, the report ‘A New World’
observed that India has been among the
fastest-growing economies in the world
Pacific powerhouse in Abu Dhabi - From left are Samoa’s Deputy PM Fiame Naomi Mata’afa, Tuvalu Prime Minister in the last few years, lifting millions out
Enele Sopoaga and Kiribati President Taneti Maamau. Photos: Irena
of poverty.
“It is projected to have the world’s
By Samisoni Pareti* most if the world shifts towards adopt- largest population by 2024 and is poised
ing renewable energy sources instead of to overtake China as the world’s largest
AFTER years of dependence on fossil fu- fossil fuels. energy growth market by the end of the
els, the good news from the international “Fossil fuel imports currently amounts 2020s.
agency on renewable energy, IRENA is to 8 per cent of GDP for SIDS worldwide. “India has set itself an ambitious target
that the cost of technology on renewables The shift therefore to renewable energy of 175 GW of renewables by 2022. This
are falling, and that by 2020, the average would cut import bills, promote sustain- represents a massive increase, consid-
cost of power generation of all commer- able development and increase their ering that India’s total installed power
cially available renewable energy tech- resilience,” said the IRENA report ‘A generation capacity in October 2018 was
nologies would be competitive with oil. New World.’ only 346 GW.”
“Since 2009, solar PV module costs “International cooperation to support The 18 commissioners who authored
have fallen by more than 80%,” said SIDS’ renewable energy ambitions is this groundbreaking report included
IRENA, the International Renewable En- growing substantially, and 13 SIDS have former New Zealand foreign minister
ergy Agency, hosted by the United Arab established 60-100% renewable electric- Murray McCully, the former head of the
Emirates in its capital of Abu Dhabi, in ity targets,” the report noted. United Nations Framework Convention
one of its recent reports. The Cook Islands, Fiji, Samoa and on Climate Change Christiana Figueres,
“The power generated by solar PV de- Vanuatu were the Pacific nations named former Director General of the World Trade
clined by 73 per cent between 2010 and in the IRENA report as SIDS that have Organisation Pascal Lamy and a former
2017. Onshore wind costs have also fallen 60 to 100 per cent renewable electricity US Secretary of Energy Bill Richardson.
sharply. The global weighted average cost targets. It was chaired by Olafur Grimsson, the
of electricity from onshore wind fell by Cooks’ Prime Minister Henry Puna former President of Iceland and supported
22% between 2010 and 2017, making was among Pacific leaders that attended by the governments of Germany, Norway
it one of the most competitive sources of IRENA’s 9th general assembly in Abu and the United Arab Emirates.
electricity available today.” Dhabi this month and spoke of how his The Abu Dhabi assembly also saw the
With IRENA confirming that RE tech- island nation has already achieved 80 per release of a new IRENA study that shows
nology is being widely available and cent of its target of going totally renew- that women now represent 32 per cent of
cheaper, the onus now is on politicians to ables by 2020. workers in the renewable energy sector.
ensure that such lower costs trickle down Deputy Prime Minister of Samoa, Fiame “This compares to 22% reported in
to their population. Naomi Mata’afa said her country has also traditional energy industries like oil and
This will be so true for islands in the achieved 80 per cent of its target of being gas and over 48% in global labour force
Pacific, members of the Small Islands 100 per cent powered by renewables via participation.
Developing States (SIDS) who for years solar and hydro by 2025. “Adopting a gender perspective to
had complained about high prices of fos- This same report, the work of the Global renewables development is important to
sil fuels that had strangled their desire to Commission on the Geopolitics of Energy ensure that women’s skills and views are
grow their small and vulnerable econo- Transformation, which IRENA established part of the growing industry, participants
mies, burdened as they are already with in January 2018 confirmed what many in the survey recommend. Responses
limited natural resources and expensive experts have said all along, that China show that 75% of women, but only 40%
transportation costs. and most probably India are the clear of men, perceive the existence of barriers
Indeed, another report of IRENA was world leaders in the transformation of the to women’s entry and advancement in
more direct in stating the obvious, that geopolitics of energy worldwide. the sector.
these small states stand to benefit the “Leaders in technological innovation “The survey shows a similar gap about

20 Islands Business, January 2019