Publication - LOW-COST FINANCE FOR THE ENERGY TRANSITION
This report, prepared by the International Renewable Energy Agency (IRENA) in close collaboration with the Ministry of New and Renewable Energy (MNRE) of India, aims to facilitate the discussion of this vital aspect of the transition under India’s G20 Presidency. The report offers lessons from historical cost reduction trends for solar PV and onshore wind technologies, enabling innovative frameworks that can adopt to accelerate the deployment of new and critical low-carbon technologies, and projected investment requirements for the global energy transition.The report also highlights the need to mobilize the resources of the private sector, given the limited resources of the public sector; active private sector engagement is vital, particularly in offering low-cost capital for financing energy transition projects. The catalyzing role played by the public sector is also discussed in the context of the need for deeper public-private collaboration on the journey to a net-zero future. Finally, the report stresses the importance of developing a better understanding of the critical drivers of the cost of capital for different technologies and markets.