The world is on the brink of a breakthrough in the climate fight and fossil fuels are running out of road, the UN chief said on Tuesday, as he urged countries to funnel support into low-carbon energy.<\/p>\n
More than nine in 10 renewable power projects globally are now cheaper than fossil fuel alternatives. Solar power is about 41% cheaper than the lowest-cost fossil fuel alternative, and onshore wind generation is less than half the price of fossil fuels, according to a report from the International Renewable Energy Agency<\/a>.<\/p>\n Costs have been driven down by the increasingly widespread use of the technologies, a huge focus on low-carbon manufacturing in China<\/a>, and burgeoning investment in the sector, reaching $2tn last year \u2013 which was $800bn more than went into fossil fuels, and an increase of 70% in the last decade.<\/p>\n The UN secretary general, Ant\u00f3nio Guterres<\/a>, said: \u201cWe are on the cusp of a new era. Fossil fuels are running out of road. The sun is rising on a clean energy age.\u201d<\/p>\n Guterres said countries seeking energy security against geopolitical threats and lower costs for consumers amid a global cost-of-living crisis must choose renewables. \u201cThe greatest threat to energy security today is fossil fuels. They leave economies and people at the mercy of price shocks, supply disruptions and geopolitical turmoil,\u201d he said. \u201cThere are no price spikes for sunlight. No embargos on wind.\u201d<\/p>\n Energy demand is still rising, however, driven by the demand for cooling as temperatures rise beyond bearable levels in many countries, and by the soaring demand for power for IT datacentres<\/a>, including for AI<\/a>. If even a proportion of this increase is devoted to fossil fuels it will become impossible to limit global temperature rises to 1.5C above preindustrial levels, as countries have vowed to do<\/a>.<\/p>\n The secretary general called on big technology companies to commit to sourcing 100% of their electricity demands from low-carbon generation by 2030.<\/p>\n Nearly every country is now obliged to come up with a new national plan<\/a> on greenhouse gas emissions under the 2015 Paris climate agreement<\/a>. Guterres said it made economic sense for countries to use those plans, due in September, to funnel support into low-carbon energy, and reduce the billions in subsidies that still go to fossil fuels.<\/p>\n \u201cThis transformation is fundamentally about energy security and people\u2019s security. It\u2019s about smart economics,\u201d he said in a speech in New York, which was delayed from last month by Israel\u2019s attack on Iran. \u201cWe have passed the point of no return [to fossil fuels].\u201d<\/p>\n Francesco La Camera, the director general of Irena, said: \u201cThe cost-competitiveness of renewables is today\u2019s reality. New renewable power outcompetes fossil fuels on cost, offering a clear path to affordable, secure and sustainable energy.\u201d<\/p>\n Fossil fuel interests are still strong in many countries. In the US, incentives for clean power have been cut by Donald Trump<\/a>, who is seeking to boost coal, gas and oil. In China, new coal-fired power stations are still being planned<\/a>, despite the country\u2019s strong showing on renewables, and in March, India\u2019s prime minister, Narendra Modi, celebrated the country\u2019s billionth tonne of coal production.<\/p>\n La Camera said: \u201cProgress [on renewables] is not guaranteed. Rising geopolitical tensions, trade tariffs, and material supply constraints threaten to slow the momentum and drive up costs.\u201d<\/p>\n skip past newsletter promotion<\/a><\/p>\n The planet’s most important stories. Get all the week’s environment news – the good, the bad and the essential<\/p>\n Privacy Notice: <\/strong>Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Privacy Policy<\/a>. We use Google reCaptcha to protect our website and the Google Privacy Policy<\/a> and Terms of Service<\/a> apply.<\/p>\n after newsletter promotion<\/p>\n There are concerns over the supplies of the critical minerals needed for renewable energy components, and infrastructure is also an issue, according to the report by Irena published on Tuesday<\/a> and a separate report published by the UN at the same time. Although renewable generation is increasing rapidly around the world, investments in electricity grids are failing to keep up. For every $1 invested in generation, only about 60 cents is invested in national grids. For the energy transition needed, the investments need to be roughly at parity.<\/p>\n Guterres\u2019s speech<\/a> marked a change in tone for the UN secretary general, who has raised the alarm in increasingly stark terms over the climate crisis in recent years. He warned in the Guardian in 2022 that the world would be \u201cdoomed\u201d<\/a> if climate talks failed; in 2023 he said \u201cthe era of global boiling\u201d<\/a> had arrived; last year he called fossil fuel companies \u201cthe godfathers of climate chaos\u201d<\/a>.<\/p>\n This fresh intervention takes a notably more upbeat tone, focusing on the economic benefits of a shift to clean energy.<\/p>\n Bill Hare, chief executive of the Climate Analytics thinktank, said investors and governments should take note: \u201cAny investment in new fossil fuels now is a fool\u2019s gamble, while joining the race to renewables can only bring benefits \u2013 not just jobs and cheaper energy at stable prices, but energy independence and access where it\u2019s needed most. Developing regions like Africa have huge energy access needs, and even bigger renewable resources. What they need now is international finance to share in the renewables revolution.\u201d<\/p>\n