Unlocking a Renewable Energy Future

The document argues that while renewable energy technology is cost-competitive, private investment is hindered by inadequate policy frameworks, community opposition, and outdated grid infrastructure. It recommends that governments establish binding long-term targets, streamline permitting through inclusive planning, and invest in grid flexibility and storage to unlock the $131 trillion needed by 2050 for a clean energy transition.

• To align with a 1.5°C pathway and the Paris Agreement, global renewable electricity production must increase nearly six times by 2030, with renewables generating between 55 and 90 percent of the global electricity supply in the coming decade, up from 27 percent currently.
• The clean energy transition requires an estimated $131 trillion in investments between 2021 and 2050, representing a 30 percent increase over current planned allocations, with a significant portion expected from the private sector.
• Utility-scale solar photovoltaic (PV) and onshore wind are now the cheapest sources of new-build power for more than two-thirds of the global population, with some projects in China, the Middle East, Chile, Brazil, the US, and India costing below $30 per megawatt hour.
• Private investment is inhibited by three primary challenges: market structures that lack incentives for new projects, a lack of public support for siting developments, and grid infrastructure that is incompatible or inadequate.
• Governments can reduce revenue risk and lower the cost of capital through two-way Contracts for Difference (CfD), which provide a guaranteed price floor for developers while returning excess revenue to the government or consumers when market prices are high.
• Local opposition to renewable projects often stems from concerns over home values, noise, wildlife damage, and land rights; the document highlights the Turkana Wind Project in Kenya as an example of delays caused by conflicts over indigenous land rights.
• To streamline development and mitigate environmental impact, governments can designate Renewable Energy Zones (REZs), which are preapproved areas based on resource quality, topography, and proximity to transmission infrastructure.
• Outdated transmission systems can constrain investment even in resource-rich areas, as seen in Australia's northern Queensland, northwest Victoria, and New South Wales.
• Reaching 85 percent renewable electricity globally by 2050 will require approximately $18 trillion in investments for grid expansion, energy storage, and enhanced flexibility.

APA

Hutchinson, N., Dennis, M., Grann, E. D., Clevenger, T., Manion, M., Bøggild, J., & Layke, J. (2021). Unlocking a Renewable Energy Future. World Resources Institute. https://files.wri.org/d8/s3fs-public/2021-06/unlocking-renewable-energy-future.pdf

Chicago

Hutchinson, Norma, Maggie Dennis, Emil Damgaard Grann, Tyler Clevenger, Michelle Manion, Johannes Bøggild, and Jennifer Layke. Unlocking a Renewable Energy Future. World Resources Institute, 2021. https://files.wri.org/d8/s3fs-public/2021-06/unlocking-renewable-energy-future.pdf.

Wikipedia

{{cite report |last1=Hutchinson |first1=Norma |last2=Dennis |first2=Maggie |last3=Grann |first3=Emil Damgaard |last4=Clevenger |first4=Tyler |last5=Manion |first5=Michelle |last6=Bøggild |first6=Johannes |last7=Layke |first7=Jennifer |title=Unlocking a Renewable Energy Future |publisher=World Resources Institute |date=2021 |url=https://files.wri.org/d8/s3fs-public/2021-06/unlocking-renewable-energy-future.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{hutchinson2021unlocking, author = {Hutchinson, Norma and Dennis, Maggie and Grann, Emil Damgaard and Clevenger, Tyler and Manion, Michelle and Bøggild, Johannes and Layke, Jennifer}, title = {{Unlocking a Renewable Energy Future}}, institution = {World Resources Institute}, year = {2021}, url = {https://files.wri.org/d8/s3fs-public/2021-06/unlocking-renewable-energy-future.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }