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It spotlights 40 innovations modernising grids and energy access.

Core equipment costs can rise to around US$100 per kilowatt-hour or more in markets with higher tariffs, among others.

Coal usage will decline due to increasing competition with other energy sources.

But it fell short of the USD671b annual investments needed to be reached between 2025 and 2030, IRENA said.

Funding decreased to $11.2b.