Quantcast
Powered by RebelMouse
Business
Greenpeace
Feb. 29, 2016 12:12PM EST

2015 Was Record-Breaking Year for Investment in Renewable Energy

A record $367 billion was invested in renewable energy around the world last year, according to a new report published today by Clean Energy Canada.

That’s more than a third of a trillion dollars (USD) and a 7 percent increase on 2014.

Whereas the oil price crash had everyone expecting renewable energy projects to stumble last year, this latest analysis shows that the sector actually boomed.

New renewables investment significantly overtook new fossil fuel investments, with "only" $253bn going into new coal, oil and gas projects in 2015.

Global renewables investment since 2011—let’s not talk about 2013.

The top-five destinations for clean energy investment dollars were China ($110.5bn), the U.S. ($56bn), Japan ($46bn), the UK ($23.4bn) and India ($10.9bn).

Renewables spending has really kicked off in emerging economies.

Renewables investment was up 24 percent from 2014 in the UK and 23 percent in India, although it fell by an embarrassing 46 percent in Canada. Which somehow didn’t affect Canada’s global ranking—it’s still number eight.

And 2015 was the first time that more money was invested in clean energy in developing countries ($167bn) than developed countries ($162bn).

The report calls 2015 a “breakout year” for the Middle East—especially for solar—and names Africa as another region to watch in the next few years.

These pretty impressive numbers (Canada aside) probably have something to do with the plummeting costs associated with renewable energy. The report finds that the unsubsidised cost of wind energy is down 61 percent since 2009 and utility-scale solar PV is down 82 percent.

So, happy Monday clean energy fans.

YOU MIGHT ALSO LIKE

100% Renewable Energy Is Possible, Here’s How

Trade Rules Trump Climate Action: U.S. Blocks India’s Ambitious Solar Plans

Al Gore: 3 Questions We Have to Answer About Climate Change

Warren Buffett Wages Quiet War on Solar in the West

Show Comments ()

EcoWatch Daily Newsletter

Sponsored
Animals
An adult bush dog, part of a captive breeding program. Hudson Garcia

A Rescue Dog Is Now Helping to Save Other (Much Wilder) Dogs

By Jason Bittel

Formidable predators stalk the forests between Panama and northern Argentina. They are sometimes heard but never seen. They are small but feisty and have even been documented trying to take down a tapir, which can top out at nearly 400 pounds. Chupacabras? No.

Keep reading... Show less
Health
RoNeDya / iStock / Getty Images

What Is Mead, and Is It Good for You?

By Ansley Hill, RD, LD

Mead is a fermented beverage traditionally made from honey, water and a yeast or bacterial culture.

Keep reading... Show less
Climate
U.S. Army member helps clear debris from Tyndall Air Force Base following Hurricane Michael. U.S. Army

Pentagon: Climate Change Is Real and a 'National Security Issue'

The Pentagon released a Congressionally mandated report (pdf) that warns flooding, drought and wildfires and other effects of climate change puts U.S. military bases at risk.

The 22-page analysis states plainly: "The effects of a changing climate are a national security issue with potential impacts to Department of Defense (DoD or the Department) missions, operational plans, and installations."

Keep reading... Show less
Popular
Protesters interrupt the confirmation hearing for Andrew Wheeler on Capitol Hill Jan. 16 in Washington, DC. Chip Somodevilla / Getty Images

5 People Calling Out EPA Acting Head Wheeler for Putting Polluters First

This week, people across the country are joining environmental leaders to speak out against the nomination of former coal lobbyist Andrew Wheeler to lead the the U.S. Environmental Protection Agency (EPA). As Scott Pruitt's hand-picked successor, Wheeler has continued to put polluters over people, most recently by using the last of his agency's funding before it expired in the government shutdown to announce plans to allow power plants to spew toxic mercury and other hazardous pollution into the air.

Keep reading... Show less
Sponsored
Popular
Great white shark. Elias Levy / Flickr / CC BY 2.0

Marine Biologists Raise Flags About Viral Great White Shark Encounter

By now you might have seen Ocean Ramsey's rare and jaw-dropping encounter with a great white shark in waters near Oahu, Hawaii.

Ramsey, a marine biologist, said on the TODAY Show that it was "absolutely breathtaking and heart-melting" to be approached by the massive marine mammal.

Keep reading... Show less
Insights/Opinion
A tree found severed in half in an act of vandalism in Joshua Tree National Park. Gina Ferazzi / Los AngelesTimes / Getty Images

Wall Before Country Takes Mounting Toll on Americans Everywhere

By Rhea Suh

One month on, the longest and most senseless U.S. government shutdown in history is taking a grave and growing toll on the environment and public health.

Food inspectors have been idled or are working without pay, increasing the risk we'll get sick from eating produce, meat and poultry that isn't properly checked. National parks and public wilderness lands are overrun by vandals, overtaken by off-road joyriders, and overflowing with trash. Federal testing of air and water quality, as well as monitoring of pollution levels from factories, incinerators and other sources, is on hold or sharply curtailed. Citizen input on critical environmental issues is being hindered. Vital research and data collection are being sidelined.

Keep reading... Show less
Sponsored
Energy
The W. A. Parish Power Plant, owned by NRG Energy, is one of the largest coal-fired power plants in the U.S. Roy Luck / CC BY 2.0

All Coal-Fired Power Plants in Texas Found Leaking Toxins Into Groundwater

Power plants across Texas are leaching toxins into groundwater, according to new research. A report released this week from the Environmental Integrity Project found that all of the state's 16 coal-fired power plants are leaching contaminants from coal ash into the ground, and almost none of the plants are properly lining their pits to prevent leakage.

Keep reading... Show less
Popular
Martin Luther King, Jr. National Historic Site. NPS

MLK National Park to Re-Open Despite Shutdown, Thanks to Delta

Hats off to Delta Air Lines. The company's charitable arm awarded the National Park Service an $83,500 grant to help reopen the Martin Luther King Jr. National Historical Park in Atlanta from Jan. 19 through Feb. 3 in honor of Dr. King's legacy.

The Atlanta-based airline was inspired to act after learning that some of the park's sites, including Dr. King's birth home, Ebenezer Baptist Church, Fire Station No. 6 and the visitor center, were closed due to the partial government shutdown, now on its 28th day, according to LinkedIn post from Delta Air Lines CEO Ed Bastian.

Keep reading... Show less
Sponsored

mail-copy

The best of EcoWatch, right in your inbox. Sign up for our email newsletter!