Corporate acceleration
With solar declared the cheapest form of power in history, and wind prices following a similar trajectory, corporate energy users are buying renewable power and investing in new capacity at scale. But more companies need to step up. Governments around the world must remove policy barriers and open new markets to competition from renewables if we are to reach the scale of investment needed to achieve a 1.5-degree world, according to Sam Kimmins, the head of RE100.
The scale of RE100’s mission was spelled out in the International Renewable Energy Agency’s (IRENA) 2021 World Energy Transitions Outlook, which estimates that 27,700 GW of renewable energy capacity will be required by 2050 to keep the climate within 1.5 C of change. Just under half of this, or 12,800 GW, will be required …
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