IRENA Director General Adnan Amin: “Cost of generating energy from renewable sources is sharply declining”
“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.
The 7th St. Petersburg International Gas Forum, which takes place as part of the Russian Energy Week 2017, will host the final stage of the Contest for the Best Socially-Oriented Oil and Gas Company as well as the awarding ceremony for the winners. The following companies have made it to the final round: Rosneft, Gazprom Neft, Lukoil, Zarubezhneft, Transneft, Surgutneftegas, Tatneft, and RussNeft.
The second day of the 6th Global Energy Prize Summit will be held during the 'Russian Energy Week' Energy Efficiency and Energy Development International Forum.