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Renewable energy investment hits new world record

text-relevantRenewable energy investments: Major milestones reached, new world record set  For firstpiggy-ban-renewables
time, developing world investments in renewables (up 19 percent in 2015) topped developed nations’ (down 8%); World record total of $286 billion invested in renewables last year, makes $2.3 trillion over 12 years,
Science Daily March 24, 2016

Source:
United Nations Environment Programme
Summary:
Coal and gas-fired generation attracted less than half as much capacity investment as renewables last year; Renewables added more to global energy generation capacity than all other technologies combined; For first time, developing world investments in renewables (up 19 percent in 2015) topped developed nations’ (down 8 percent); and world record total of $286 billion invested in renewables last year; makes $2.3 trillion over 12 years.
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 UNEP’s annual report, 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 R&D as well as spending on new capacity, totalled $286 billion in 2015, some 3% higher than the previous record in 2011. Since 2004, the world has invested $2.3 trillion in renewable energy (unadjusted for inflation).

Just as significantly, developing world investments in renewables topped those of developed nations for the first time in 2015.

Helped by further falls in generating costs per megawatt-hour, particularly in solar photovoltaics, renewables excluding large hydro made up 54% of added gigawatt capacity of all technologies last year. It marks the first time new installed renewables have topped the capacity added from all conventional technologies.

The 134 gigawatts (GW) of renewable power added worldwide in 2015 compares to 106GW in 2014 and 87GW in 2013.

Were it not for renewables excluding large hydro, annual global CO2emissions would have been an estimated 1.5 gigatonnes higher in 2015

UNEP Executive Director Achim Steiner said, “Renewables are becoming ever more central to our low-carbon lifestyles, and the record-setting investments in 2015 are further proof of this trend. Importantly, for the first time in 2015, renewables in investments were higher in developing countries than developed.”“Access to clean, modern energy is of enormous value for all societies, but especially so in regions where reliable energy can offer profound improvements in quality of life, economic development and environmental sustainability. Continued and increased investment in renewables is not only good for people and planet, but will be a key element in achieving international targets on climate change and sustainable development. ”

“By adopting the Sustainable Development Goals last year, the world pledged to end poverty, promote sustainable development, and to ensure healthier lives and access to affordable, sustainable, clean energy for all. Continued and increased investment in renewables will be a significant part of delivering on that promise.”

Said Michael Liebreich, Chairman of the Advisory Board at BNEF: “Global investment in renewables capacity hit a new record in 2015, far outpacing that in fossil fuel generating capacity despite falling oil, gas and coal prices. It has broadened out to a wider and wider array of developing countries, helped by sharply reduced costs and by the benefits of local power production over reliance on imported commodities.”………..

As in previous years, the report shows the 2015 renewable energy market was dominated by solar photovoltaics and wind, which together added 118GW in generating capacity, far above the previous record of 94GW set in 2014……
Developing countries on the rise led by China and India
In 2015, for the first time, investments in renewable energy in developing and emerging economy nations ($156 billion, up 19% compared to 2014) surpassed those in developed countries ($130 billion, down 8% from 2014).Much of these record-breaking developing world investments took place in China (up 17% to $102.9 billion, or 36% of the world total).

Other developing countries showing increased investment included India (up 22% to $10.2 billion), South Africa (up 329% to $4.5 billion), Mexico (up 105% to $4 billion) and Chile (up 151% to $3.4 billion).

Morocco, Turkey and Uruguay all joined the list of countries investing more than $1 billion……..https://www.sciencedaily.com/releases/2016/03/160324104513.htm

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March 28, 2016 - Posted by | 2 WORLD, renewable

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