Green energy investments worldwide surge 17% to $270b
According to UNEP's ninth 'Global Trends in Renewable Energy Investment 2015', prepared by the Frankfurt School-UNEP Collaborating Centre for Climate and Sustainable Energy Finance and Bloomberg New Energy Finance, the United Nations Environment Programme (UNEP) and Bloomberg New Energy Finance — the past year brought a rebound of green energy investments worldwide with a surge of a solid 17% to $270 billion (€255 billion).
Additional highlights include:
• China saw the biggest renewable energy investments in 2014 — a record $83.3 billion, up 39% from 2013. The US was second at $38.3 billion, up 7% on the year but well below its all-time high reached in 2011. Third came Japan, at $35.7 billion, 10% higher than in 2013 and its biggest total ever.
• A key feature of the 2014 result was the rapid expansion of renewables into new markets in developing countries. Investment in developing countries, at $131.3 billion, was up 36% on the previous year and came the closest ever to overhauling the total for developed economies, at $138.9 billion, up just 3% on the year. In addition to China, Brazil ($7.6 billion), India ($7.4 billion) and South Africa ($5.5 billion) were all in the top 10 of investing countries while more than $1 billion was invested in Indonesia, Chile, Mexico, Kenya and Turkey.
• Biomass, waste-to-power, marine power, as well as wind, solar, geothermal and small hydro contributed an estimated 9.1% of world electricity generation in 2014, compared to 8.5% in 2013. This would be equivalent to a saving of 1.3 gigatonnes of CO2 taking place as a result of the installed capacity of those renewable sources.
SOURCE: Frankfurt School UNEP Collaborating Centre for Climate & Sustainable Energy Finance