New World Record Set For Renewable Energy Investments
Renewable Energy Investments: Major Milestones Reached, New World Record Set
Coal and gas-fired electricity generation last year drew less than half the record investment made in solar, wind and other renewables capacity — one of several important firsts for green energy announced today in a UN-backed report.
Global Trends in Renewable Energy Investment 2016, the 10th edition of the UN Environment Programme’s (UNEP’s) annual publication, launched today by the Frankfurt School-UNEP Collaborating Centre for Climate & Sustainable Energy Finance and Bloomberg New Energy Finance (BNEF), says the annual global investment in new renewables capacity, at $266 billion, was more than double the estimated $130 billion invested in coal and gas power stations in 2015.
All investments in renewables, including early-stage technology and research and development as well as spending on new capacity, totalled $286 billion in 2015, some 3 per cent higher than the previous record in 2011. Since 2004, the world has invested $2.3 trillion in renewable energy (unadjusted for inflation).
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