In most cases, renewable energy technologies such as wind and solar cost less than fossil fuels, contributing to climate change. Still, the world must prioritize transforming its energy systems and transitioning to renewable energy.

Here are five ways to accelerate the renewable energy transition:

1. Reduce fossil fuel energy subsidies and increase renewable energy subsidies.

Fossil fuels are one of the main contributors to global warming, and António Guterres has been calling on the international community to stop providing any public and private funding for fossil fuels.

The International Monetary Fund says that about $5.9 trillion will be spent subsidizing the fossil fuel industry in 2020 alone.

Reducing the use of fossil fuels by shifting subsidies from fossil fuels to renewable energy sources can promote sustained economic growth, job creation, improved public health, and greater equality.

2. Tripling investment in renewable energy.

It is estimated that at least $4 trillion per year in renewable energy investment is needed by 2030 to get us to net-zero emissions by 2050.

Net-zero emissions mean that greenhouse gas emissions are minimized to the extent possible, and any remaining emissions are reabsorbed in the atmosphere, for example, by oceans and forests.

3. Making renewable energy technologies a global public good.

They are making RETs a global public suitable means they are available to all, not just the rich. To this end, knowledge-sharing and technology transfer barriers must be removed.

By storing renewable energy using technologies such as battery storage systems, reliable and inexpensive electricity is provided to communities in remote areas such as India, Tanzania, and Vanuatu.

4. Improve global access to components and raw materials.

More comprehensive access is needed to all critical components and raw materials, including the minerals required to build wind turbines and power grids and the elements necessary to produce electric vehicles.

Expanding and diversifying renewable energy manufacturing capacity globally will require considerable international coordination.

Investments in training people in skills, research, and innovation, and incentives to build supply chains through sustainable practices that protect ecosystems will also be needed.

5. Leveling the playing field for renewable energy technologies.

While global cooperation and coordination are essential, each country's policies must be reformed as soon as possible if renewable energy projects are to be accelerated and private sector investment promoted.

The technology, capacity, and financing for the transition to renewable energy are available. Still, they must be accompanied by policies and procedures that reduce market risk and promote and incentivize investment.