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October 20, 2017

IRENA Director General Adnan Amin: “Cost of generating energy from renewable sources is sharply declining”

International Renewable Energy Agency (IRENA) Director General Adnan Amin said at the 6th Global Energy Summit during REW 2017 that humanity is approaching the limit of the planet's capabilities.

“The economy, environment, and energy are the three elements that are central when making decisions about our future. We are working with megatrends: population growth, a loss of biodiversity, and the pollution of the environment. We are virtually approaching the limit of the earth’s capabilities to cope with our impact on it”, Amin said.

Amin also noted a sharp decrease in the cost of generating energy from renewable sources. “Last year, renewable energy sources accounted for 62% of new capacity in the energy sector. The biggest source is solar energy. Innovation is the engine of this process. The cost of technology has dramatically declined – by 80% for solar – over the past four years”, Amin said.

The director general said costs will continue to decrease over the next decade. “Oil-producing countries are actively switching to renewable energy sources”, Amin said.

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