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IRENA says renewable energy boosts GDP

Governments could use energy transformations to create jobs, meet climate targets and produce GDP gains of US$98 trillion by 2050, according to a new report.

A planned $1 billion Crescent Dunes solar plant in Nevada failed in 2019
A planned $1 billion Crescent Dunes solar plant in Nevada failed in 2019 (AN/BLM Nevada)

Governments could use energy transformations to create jobs, meet climate targets and produce cumulative global GDP gains of US$98 trillion above the usual scenarios by 2050, according to a new report on Monday.

The International Renewable Energy Agency's inaugural annual Global Renewables Outlook said nations could fully decarbonize by mid-century, in ways that revitalize their economies hit hard by the coronavirus pandemic, if they use their COVID-19 stimulus packages to promote clean energy technologies.

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