Quantcast
Environmental News for a Healthier Planet and Life

Help Support EcoWatch

World Sees Record Renewable Energy Growth Despite Fall in Investment

Popular
World Sees Record Renewable Energy Growth Despite Fall in Investment

Renewable energy provided a record 55 percent of power generating capacity worldwide in 2016, according to a new UN Environment Programme (UNEP) and Bloomberg New Energy Finance report.


The new capacity comes with a smaller price tag for investors due to the plummeting costs for renewables: average PV solar generation costs dropped 17 percent, while onshore wind dropped 18 percent and offshore wind dropped 28 percent.

Overall, global investment in clean energy fell 23 percent from 2015 levels, even as the world installed a record 139 GW of renewable energy. The report estimates that the collective renewable installation prevented the emission of 1.7 gigatonnes of CO2.

"It's a whole new world: even though investment is down, annual installations are still up; instead of having to subsidize renewables, now authorities may have to subsidize natural gas plants to help them provide grid reliability," Michael Liebreich, chairman of the advisory board at UNEP, said in the report.

For a deeper dive:

News: Reuters, Politico Pro, AP, Bloomberg, Mashable, Christian Science Monitor, InsideClimate News

Commentary: ThinkProgress, Joe Romm column

For more climate change and clean energy news, you can follow Climate Nexus on Twitter and Facebook, and sign up for daily Hot News.

Project goal: To create an environmentally friendly and sustainable alternative to leather, in this case using fungi.

Read More Show Less

EcoWatch Daily Newsletter

Plastic waste is bulldozed at a landfill. Needpix

The plastic recycling model was never economically viable, but oil and gas companies still touted it as a magic solution to waste, selling the American public a lie so the companies could keep pushing new plastic.

Read More Show Less

Trending

54% of parents with school-age children expressed concern that their children could fall behind academically, according to a poll conducted over the summer of 2020. Maria Symchych-Navrotska / Getty Images

By Pamela Davis-Kean

With in-person instruction becoming the exception rather than the norm, 54% of parents with school-age children expressed concern that their children could fall behind academically, according to a poll conducted over the summer of 2020. Initial projections from the Northwest Evaluation Association, which conducts research and creates commonly used standardized tests, suggest that these fears are well-grounded, especially for children from low-income families.

Read More Show Less
A teenager reads a school English assignment at home after her school shut down because of the COVID-19 pandemic on March 22, 2020 in Brooklyn, New York. Andrew Lichtenstein / Corbis via Getty Images

The pandemic has affected everyone, but mental health experts warn that youth and teens are suffering disproportionately and that depression and suicide rates are increasing.

Read More Show Less
In an ad released by Republican Voters Against Trump, former coronavirus task force member Olivia Troye roasted the president for his response. Republican Voters Against Trump / YouTube

Yet another former Trump administration staffer has come out with an endorsement for former Vice President Joe Biden, this time in response to President Donald Trump's handling of the coronavirus pandemic.

Read More Show Less

Support Ecowatch