Tag Archives: IRENA

Auctions are having dramatic effects on renewable energy prices

IRENA, January, 2018.

At least 67 countries had used auctions for renewable energy contracts by mid-2016, up from less than 10 in 2005. This auctions report from the International Renewable Energy Agency (IRENA) provides key updates on this crucial mechanism for price discovery and market development.

Average contract prices fell to USD 50 per megawatt-hour (MWh) for solar and USD 40/MWh for wind power in 2016, compared to USD 250/MWh and USD 80/MWh, respectively, in 2010. Chile, Mexico, Morocco, Peru and the United Arab Emirates achieved record price lows with solar and wind auctions in 2016. Along with falling technology costs, policy support and improved access to finance have helped drive accelerating renewable energy development.

Chapter 1 gives the highlights of renewable energy auctions held or announced in 2016.

Chapter 2 reviews the main trends and analyses the evolution of prices resulting from auctions.

Price determinants, analysed in Chapter 3, include:

  • access to finance and country-specific conditions;
  • investor confidence and a conducive environment;
  • other policies aimed at supporting renewable energy development; and
  • auction design elements.

Chapter 4 presents country case studies to show how the design of each auction has to be tailored to a specific context and objectives.

Chapter 5 analyses the use of auctions to promote less mature technologies, such as offshore wind and biomass, while also delivering socio-economic benefits.

Finally, Chapter 6 outlines key considerations in renewable energy auction design, including trade-offs between maximum cost-effectiveness and other objectives.

The report follows IRENA’s earlier studies:

Here is the full report: IRENA_Renewable_Energy_Auctions_2017

UN Climate Summit support renewable energy

ESI-Africa, 26 September, 2014.

As the UN Climate Summit in New York continues, new initiatives for Africa have been announced that will promote clean and renewable energy.

One of these, The Africa Clean Energy Corridor will be facilitated by IRENA (International Renewable Energy Agency)

The Africa Clean Energy Corridor (ACEC), is a regional initiative which will advance the development of renewable energy projects across the continent and cut annual carbon dioxide (CO2) emissions level throughout the Eastern Africa and Southern African power pools. The initiative took a major step forward as 32 partners – including the governments of 19 countries, along with regional organisations, development partners and financial institutions – rallied behind the implementation of an Action Agenda endorsed in Abu Dhabi earlier this year.

IRENA believes that cooperation on regional renewable energy deployment could reduce generation costs by 4% and potentially triple electricity supply…

(EGI-SA Ed. note: Lets see the money, not just promises!)

Read more…

IRENA Invitation

IRENA, 29 May, 2014.

Are you committed to a more sustainable future? Keen to share action-oriented ideas? If so, you are invited to join us at the International Renewable Energy Agency’s new IRENA Community.

The IRENA Community is for anyone with an interest in renewable energy. Whether you’re a student, a professional or simply want to help make a difference, the IRENA Community is your platform for collaboration.

Tap into IRENA’s knowledge, discuss renewable energy finance, policy, economics, education, careers, technology and much, much more.

Find us at: www.irena.org/community. We look forward to seeing you there!


IRENA Community