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International Renewable Energy Agency0102Reduce. Reuse.Recycle. Remove.August 2020Please see disclaimerInternational Renewable Energy AgencyReduce: Non-bio renewables.

International Renewable Energy AgencyThe views in this report are those of IRENA and do not necessarily reflect the official views of the G20 Members collectively or individually or of KAPSARC.

qNtPsQyQzRaQaOaQmOpPmOpPiNqQxOkPsRrRaQrQqOuOsQrNNZoOqOInternational Renewable Energy AgencyTable of contents00010203Abbreviations Executive summaryG20 RecommendationsIntroductionCurrent StatusRenewable technology and carbon reduction outlook050710151826References62690405064959Socio-economic footprint of the G20 energy transition4.1 Energy sector and renewable energy jobs in the G20 4.2 Gross domestic product in G20 4.3 Welfare in the G20 Barriers to the deployment of renewable energyEnabling policies

International Renewable Energy AgencyFiguresFigure 1. Evolution of LCOE costs for solar PV and wind onshore (2010- 2019) 20Figure 2. Evolution of renewable energy in the power sector (2010- 2017/2018/2019) 21Figure 3. Evolution of electrification of end-use sectors 22Figure 4. Key drivers for the energy transformation 29Figure 5. Annual energy-related CO2 emissions and mitigation contributions by technology in the Baseline Energy Scenario, the Planned Energy Scenario and the Transforming Energy Scenario (2010-2050) 30Figure 6. The global energy supply must become more efficient and more renewable 31Figure 7. Breakdown of electricity generation and total installed capacity by source, 2017-2050 32Figure 8. Electricity becomes the main energy carrier in energy consumption by 2050 33Figure 9. Power sector key indicators 34Figure 10. VRE share in generation and capacity, storage technologies 35Figure 11. Progress that is needed for key indicators to achieve the Transforming Energy Scenario 39Figure 12. Cumulative energy sector investments over the period to 2050 under the Planned Energy Scenario and the Transforming Energy Scenario 40Figure 13. Cumulative system costs and savings from reduced externalities for the Transforming Energy Scenario for the period to 2050 (USD trillion) 41Figure 14a. Remaining energy and process-related CO2 emissions in the Transforming Energy Scenario and Deeper Decarbonisation Perspective “zero” to reduce energy and process emissions to zero latest by 2060 (GtCO2) 42Figure 14b. Remaining energy and process-related CO2 emissions in the Transforming Energy Scenario and Deeper Decarbonisation Perspective “zero” to reduce energy and process emissions to zero latest by 2060 (GtCO2) 43

International Renewable Energy AgencyFigure 15. Cumulative costs and savings for the Deeper Decarbonisation Perspective “zero”, 2020-2050 (TES), 2020-2060 (DDP) (trillion USD2015) 44Figure 16. Mitigation costs for select technologies and groupings, 2050 45Figure 17. Estimating the socio-economic footprint of transition roadmaps 50Figure 18. ...