Erratic policy is holding back renewable energy from its potential contribution to cutting carbon emissions and meeting climate and development targets, according to a new report.
The study – ‘Renewables 2019 Global Status Report’ – by REN21 said that for the fourth year in a row more clean power capacity was installed than fossil fuel and nuclear power combined.
But, it added, a lack of ambitious and sustained policies to drive decarbonisation across the heating, cooling and transport sectors means countries are not maximising the benefits of the transition.
Clean power provides over 26% of global electricity but accounts for only 10% for heating and cooling and only 3% for transport.
“This imbalance between energy sectors is in large part due to insufficient or unstable policy support,” the report said.
It found that the number of countries with a policy for renewables in heat actually declined.
Over 90 countries now have more than 1GW of renewable power installed, with 30 having over 10GW.
REN21 executive secretary Rana Adib said: “A key breakthrough could occur if countries cut their fossil fuel subsidies which are propping up dirty energy.”
The report said that ambitious policy and regulatory frameworks are critical to creating favourable and competitive conditions, allowing renewable energy to grow and displace more expensive and carbon-emitting fuels.
It found that 40 countries have undertaken some level of fossil fuel reform, but subsidies continue to exist in 112 countries, with 73 countries providing subsidies of over $100m each.
The report estimates total global subsidies for fossil fuel consumption was $300bn in 2017, up 11% on the previous year.
Carbon pricing remains an under-utilised policy tool with only 44 countries, 21 states/provinces and seven cities with carbon pricing policies, the report said.
This covers just 13% of global carbon emissions.
REN21 is a global network of experts from governments, inter-governmental and non-governmental organisations, industry, science and academia.