Renewable energy could save world billions

Boosting renewable energy generation to meet global climate goals could save as much as $4.2trn (€3.75trn) a year by 2030, according to a report asking lawmakers to strengthen clean energy policies.

Doubling the share of renewables in the world’s energy mix to 36% between now and 2030 would cost $290bn (€261bn) a year and limit global warming to below two degrees celsius, according to the Abu Dhabi-based International Renewable Energy Agency report published yesterday.

Mitigating against the harmful effects of global warming accounts for much of the savings.