Accelerating electrification powered by renewables must be a priority for the decade to 2035 IRENA’s World Energy Transition Outlook says and has called for system-wide reforms and an agenda for secure, affordable, and competitive energy.

Moreover, it believes it is achievable by electrification with renewables, combined with more efficient technologies and sustainable fuels, that can drive a shift by scaling clean power, unlocking energy efficiency gains, and meeting rising energy demand.

Under IRENA’s 1.5 C scenario, the world’s economy would grow by 1.1 per cent every year above business as usual, translating into cumulative gains for societies of around $46tr by 2050.

While renewable additions continue to set records in 2025, grid enhancements fail to keep pace, and energy demand keeps surging rapidly. Furthermore, energy efficiency improvements remain significantly below the required rate and fail to offset the growing power demand. Consequently, electrification and renewables must accelerate dramatically. Global installed renewable power would need to grow from 5.2TW today to around 38.2TW by 2050, while electricity’s share of final energy consumption rises to 35 per cent by 2035 and over 50 per cent by 2050. More than 80 per cent of electricity would be supplied by solar and wind by mid-century.

Francesco La Camera, director-general of IRENA said: “The global energy transition is under stress. Record growth in renewables is not enough on its own: energy efficiency is falling short, grids are struggling to keep pace, and global energy demand continues to surge. We cannot deliver the transition by simply adding renewables to an unchanged energy system. We need reforms to build the infrastructure of a new energy system, one that is electrified, efficient, flexible and powered by renewables.”

Renewable energy jobs could also rise more than fivefold, up from just over 16 million today. And as emerging electricity markets become more cost-competitive, a respective electricity competitiveness could lead to 15 per cent lower end-user power prices by 2050.

---