Renewable energy had a big 2019, but still isn't meeting long-term Paris agreement goals

Threat level: The pandemic is creating near-term headwinds for growth.

Yes, but: Even putting the pandemic problems aside, the analysis says the long-term investment picture is not robust enough. From the report...

"Governments and companies around the world have committed to adding some 826 gigawatts of new non-hydro renewable power capacity in the decade to 2030, at a likely cost of around $1 trillion."

"Those commitments fall far short of what would be needed to limit world temperature increases to less than 2 degrees Celsius. They also look modest compared to the $2.7 trillion invested during the 2010-2019 decade."

What's next: Per the authors, what should be next is for governments to stitch low-carbon energy initiatives into their pandemic response plans.

• "If governments take advantage of the ever-falling price tag of renewables to put clean energy at the heart of COVID-19 economic recovery, instead of subsidizing the recovery of fossil-fuel industries, they can take a big step towards clean energy and a healthy natural world," it states.

Go deeper: Renewable energy group declares cost "turning point"