Global clean energy investment hits record $329 billion in 2015: Research
Clean energy investment worldwide reached a record $329.3 billion in 2015 as investors shrugged off falling fossil fuel prices and currency fluctuations and installed the highest ever amount of renewable power capacity, research showed on Thursday.
China made the most clean energy investments in 2015 at $110.5 billion, 17 per cent more than in 2014. Other emerging markets also saw huge gains, such as South Africa, Chile and Mexico.
Investment in renewable sources of energy, such as wind and solar, was 4 per cent higher than 2014’s revised figure of $315.9 billion and was nearly six times the amount of 2004, Bloomberg New Energy Finance said in a report.
Renewable capacity installation was 30 per cent higher than in 2014, with 64 gigawatts of wind and 57 GW of solar photovoltaic (PV) commissioned last year.
The climb occurred even though prices for oil and natural gas plunged, Europe’s economy remined weak and the U.S. currency strengthened, which reduced the dollar value of non-dollar investments.