Global Trends in Renewable Energy Investment Report 2018 | FS UNEP Centre

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Global Trends in Renewable Energy Investment Report 2018

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Global Trends in Renewable Energy Investment Report 2018

Banking on sunshine: World added far more solar than fossil fuel power generating capacity in 2017

The Global Trends in Renewable Energy Investment 2018 report, published on April 5th by UN Environment, the Frankfurt School-UNEP Collaborating Centre, and Bloomberg New Energy Finance, finds that falling costs for solar electricity, and to some extent wind power, is continuing to drive deployment. Last year was the eighth in a row in which global investment in renewables exceeded $200 billion – and since 2004, the world has invested $2.9 trillion in these green energy sources. Overall, China was by far the world’s largest investing country in renewables, at a record $126.6 billion, up 31 per cent on 2016.

Solar energy dominated global investment in new power generation like never before in 2017. The world installed a record 98 gigawatts of new solar capacity, far more than the net additions of any other technology – renewable, fossil fuel or nuclear and solar power attracted far more investment, at $160.8 billion, up 18 per cent, than any other technology.

In total $279.8 billion was invested in renewables excluding large hydro and  a record 157 gigawatts of renewable power were commissioned last year, up from 143 gigawatts in 2016 and far out-stripping the net 70 gigawatts of fossil-fuel generating capacity added (after adjusting for the closure of some existing plants) over the same period.

Global new investment in renewable energy by region, 2017 $bn

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International Press Releases:

The Renewables Global Status Report is the sister publication to Frankfurt School-UNEP Global Trends in Renewable Energy Investment. REN21’s multi-stakeholder network collectively shares its insight and knowledge to help produce the GSR each year.
Read more at: www.ren21.net/gsr

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Details

Editor: 
Angus McCrone (Lead Author, Chief Editor) Ulf Moslener (Lead Editor) Francoise d’Estais Christine Grüning
Release date: 
April, 2018
Number of pages: 
86
Type: 
Reports
File size:
10.34 MB