Renewables Nearly Half of New Energy Generation Worldwide

Investors spent $270 billion in 2014 on renewable energy that is generating 103 gigawatts of clean power, according to the Global Trends in Renewable Energy Investment 2015 annual report (Frankfurt School –UNEP Centre and Bloomberg New Energy Finance). This represents a 17 percent increase over 2013 with solar and wind accounting for 92 percent of renewable energy investments. ‘Renewable energy now accounts for nearly half the net power capacity added globally’, stated a UNEP official. Investments in renewables increased most markedly in developing countries by 36 percent. The price of wind turbines and solar panels has decreased dramatically assisting in their exponential growth. Since 2004, $2.02 trillion have been invested in renewable energy worldwide. For more information see United Nations Environment Programme and BloombergBusiness.