Renewable Energy Investment Grew by 5% in 2015, to $286 Billion

first_imgRenewable Energy Investment Grew by 5% in 2015, to $286 Billion FacebookTwitterLinkedInEmailPrint分享Bobby Magill for Climate Central:Renewable energy investments, excluding large hydroelectric projects, jumped 5 percent last year, leaping over the previous investment record of $278.5 billion set in 2011. The findings were published in an annual report published on Thursday by the UN Environment Programme, the Frankfurt School and Bloomberg New Energy Finance.The world collectively spent nearly $286 billion on renewable energy development in 2015. The investment comes following an unprecedented worldwide boom in renewables in 2014 that suggested some countries are shifting dramatically toward low-carbon energy. Rising investments are in part being driven by the falling cost of solar and wind farm construction.  The money put into renewables was  more than double the $130 billion that spent on fossil fuel power plants. Developing countries led the renewable charge. China, India, Brazil and other developing countries put $156 billion into renewables last year, a 19 percent increase over 2014.The renewables investment record also shows that the transition toward the goal of reducing global reliance on coal and other fossil fuels is well underway mainly because investments in wind, solar and other renewables are now more than double investments in power plants running on fossil fuels, the report says.Renewable Energy Investments Set a Record in 2015last_img read more

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