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 forum will be attended by representatives of the largest international companies and organisations, and leading experts.
Russian Energy Week Youth Day ended on a positive note with the concluding ‘Energy of Youth Initiatives 2018’ session, which presented key youth initiatives aimed at promoting energy-saving lifestyles and energy-efficient technologies, developing education in the engineering field, and energizing the youth community in the energy sector.