Dolf Gielen, Director – IRENA Innovation and Technology Centre

On renewables:
“We’ve seen a rapid uptake of renewable energy driven by technology progress and dropping costs in wind and solar PV. This trend is supported by technology and policies. A lot of governments have put targets and support in place, and that has made a big difference”.

Barriers to green growth:
“The main issues vary by country. Fossil fuel subsidies are nearly $500 billion per year, which is nearly ten times subsidies for renewables. This is well-intended but often misses the target. The energy sector has capital stock with a long life span. If you invest in a coal power plant today it will run for almost half a century. A lot of planned investments in fossil-based generation will lock in part of this capital stock.”

Misconceptions:
“There is a lack of understanding of the opportunity. There are still a lot of misconceptions – that renewables are expensive, which in many cases is not the reality anymore. Also a lack of capacity to develop proposals – so there is a realisation at the high level that there is a an important renewable opportunity.