The Renewables Digest-September: more good news for renewables with reduced costs & increased jobs

WELCOME TO THE RENEWABLES DIGEST

In this newsletter, we share with you our latest news, data reports and upcoming insights on the renewables-based energy transition.

The global energy transition keeps moving in the right direction. Earlier in September, IRENA's report, Renewable Power Generation Costs in 2023, found that 81% of renewable additions in 2023 were cheaper than fossil fuel alternatives, offering countries a compelling business and investment case to triple renewables by 2030. That good news was followed by another with the release of IRENA's and the International Labour Organization's Renewable energy and jobs: Annual review 2024, today, which shows renewable energy jobs on the rise, leaping by 18% from 13.7 million in 2022 to 16.2 million in 2023. 

IRENA Director-General Francesco La Camera shared the good news during some of his engagements at the first-ever Global Renewables Summit held on the margin of the 79th United Nations General Assembly (UNGA)/Climate Week New York City (NYC). Seated alongside H.E. Ursula von der Leyen, President of the European Commission; H.E. Mia Mottley, Prime Minister of Barbados; H.E. William Ruto, President of Kenya; H.E. Dr. Sultan Al Jaber, COP28 President from the UAE; H.E. Mukhtar Babayev, COP29 President-Designate from Azerbaijan; Michael R. Bloomberg, the UN Secretary-General’s Special Envoy on Climate Ambition and Solutions; and Selwin Hart, Special Adviser to the UN Secretary-General on Climate and Just Transition, the Director-General explained how the energy transition's latest progress means the world has no longer an excuse to fail the tripling renewables target.

One of the urgent actions towards meeting that target is to enhance international collaboration in support of the Global South, where energy transition's progress continues to lag and its socio-economic benefits have not reached its communities. To make sure all regions win the race to triple renewables capacity, IRENA is accelerating efforts to mobilise finance to developing countries, such as the upcoming Accelerated Partnership for Renewables in Africa (APRA) Investment Forum in Kenya this month. During the 79th UNGA/Climate Week NYC, the Director-General consistently emphasised the importance of supporting marginalised regions though partnerships like APRA and actions like the Investment Forum.

For his contribution to and commitment for the success of COP28, as well as his support for the tripling pledge--the progress of which is tracked by IRENA as the Custodian Agency--Director-General La Camera was honoured with the First Class Order of Zayed II by HH Sheikh Abdullah Bin Zayed Al Nahyan, UAE Deputy Prime Minister and Minister of Foreign Affairs. The ceremony took place at the headquarters of the United Arab Emirate’s Mission to the UN in New York, on the sidelines of the UNGA. 

For more on IRENA's activities and outputs last month, please read below. We hope you will find these updates useful and continue to follow our work.

QUOTE OF THE MONTH GLOBAL UPDATES 81% of renewable additions in 2023 were cheaper than fossil fuel alternatives, offering countries a compelling business and investment case to triple renewables by 2030. Click HERE to read IRENA's new Renewable Power Generation Costs in 2023. New IRENA report shows that the growing demand for electric vehicle battery materials required by 2030 can be met by expanding sustainable supply chains and scaling-up the development and adoption of innovative technologies. Click HERE to read the full report. 2023 saw the highest ever increase in renewable energy jobs, from 13.7 million in 2022 to 16.2 million. The 18% year-on-year leap reflects the strong growth of renewables generating capacities, together with a continued expansion of equipment manufacturing. Click HERE to read IRENA-ILO new joint report. MEMBERS' SHOWCASE Azerbaijan will host the first Energy Transition Investment Forum for Central Asia to mobilise investments for renewables-based energy transition projects in the region. Co-organised by IRENA, COP29 Presidency and Ministry of Energy of Azerbaijan, the Forum will be held on 15-16 November 2024 and prioritise climate finance. Click HERE to read more. In Kenya, affordable biodigesters purchased through a results-based financing scheme allows rural farmers to leave air-polluting traditional biomass, save energy costs and improve their quality of life. Click HERE to read more. The Government of Kenya and IRENA will co-host the first forum on October 14-16, 2024 in Nairobi, Kenya, with two pre-Forum days on October 12-13 fully dedicated to training and project pitching sessions from developers from the Accelerated Partnership for Renewables in Africa (APRA) countries--currently include Kenya, Ethiopia, Ghana, Namibia, Rwanda, Sierra Leone, and Zimbabwe--and international developers working in or are interested in working in APRA countries. Click HERE to read more. FEATURED PUBLICATIONS Renewable Power Generation Costs in 2023

The levelised cost of electricity produced from most forms of renewable power continued to fall year-on-year in 2023, with solar PV leading the cost reductions, followed by offshore wind. Click HERE to read the report. Renewable energy and jobs: Annual review 2024   The eleventh edition of IRENA’s Renewable energy and jobs: Annual review – the fourth consecutive report produced in collaboration with the International Labour Organization (ILO) – provides the latest data and estimates of renewable energy employment globally. Click HERE to read the report. Solar PV supply chains: Technical and ESG standards for market integration

This report reviews key quality infrastructure and ESG standards for solar PV supply, and represents IRENA’s contribution to the Transforming Solar Supply Chain initiative of the Clean Energy Ministerial (CEM). Click HERE to read the report. Development banks and energy planning: Attracting private investment for the energy transition; the Brazilian case   This report for the G20 Brazilian presidency, focuses on the country’s collaborative approach to financing the energy transition, offering a comprehensive framework for creating a conducive environment for renewable power projects. Click HERE to read the report. RECENT EVENTS Global Renewables Summit - New York, USA: focused on delivering the commitment made at COP28 to triple global renewable energy capacity by 2030,the first-ever Global Renewables Summit, hosted by the Global Renewables Alliance and Bloomberg Philanthropies in partnership with global energy leaders including IRENA, brought together decision-makers from governments, intergovernmental organisations, finance and business. Click HERE to read the event summary. IRENA IN THE NEWS Forbes
Renewables Are Soaring, But Not High Enough To Foil Climate Impact

Reuters
Comment: The battle for net-zero emissions will be won or lost in emerging markets

Reuters
Record renewables growth fuels cost competitiveness -IRENA report shows

The Financial Times
Global jobs market shaken by green transition
  The New York Times
Confronting our new reality

Valor Econômico
Brazil is the 3rd country that creates the most jobs in renewables

Spiegel Business
The green job boom benefits China in particular

France 24
China drives record growth in renewable energy jobs: report  SOCIAL MEDIA SPOTLIGHT UPCOMING  EVENTS 1-3 OCTOBER IRENA at the 15th Clean Energy Ministerial and 9th Mission Innovation meeting (CEM15/MI-9) - Foz do Iguaçu, Brazil.   8 OCTOBER Webinar: Renewable Energy Project Siting and Nature
  12-16 OCTOBER Accelerated Partnership for Renewables in Africa (APRA) Investment Forum - Nairobi, Kenya
24-25 OCTOBER Twenty-Eighth Meeting of the IRENA Council - Abu Dhabi, UAE (invitation only)   PLEASE GO TO IRENA WEBSITE TO LEARN MORE JOB VACANCIES Programme Officer -Technical Advisory Services, P-4 Closing Date: 03 October 2024

Director, IRENA Innovation and Technology Centre, D-1 Closing Date: 18 October 2024 

Consultant – Performance Management and Appraisal Training Closing Date: 27 October 2024

PLEASE GO TO IRENA WEBSITE FOR THE COMPLETE LIST CLICK HERE TO SUBSCRIBE