Global Investment in Green Energy Rises 17% to $270 Billion

Global Investment in Green Energy Rises 17% to $270 Billion

Solar and wind accounted for 92% of all global investment in green energy last year, according to the UNEP report. The world saw a record 103 GW of renewable energy capacity added last year – the equivalent of all 158 nuclear power plant reactors in the United States – and a 17% increase in global investment in green

Solar and wind accounted for 92% of all global investment in green energy last year, according to the UNEP report.

The world saw a record 103 GW of renewable energy capacity added last year – the equivalent of all 158 nuclear power plant reactors in the United States – and a 17% increase in global investment in green power generation to $270 billion, according to a new report released on Tuesday by the United Nations Environment Programme.

According to the study, solar, wind, biomass and waste-to-power, geothermal, small hydro and marine power contributed an estimated 9.1% of world electricity generation in 2014, up from 8.5% in 2013.

The Chinese made by far the biggest renewable energy investments last year — a record $83.3 billion, up 39% from 2013, followed by the U.S. with $36.3 billion, an increase of 7% on the year but well below its all-time high reached in 2011. In third was Japan with $35.7 billion, 10% higher than in 2013 and its biggest total ever.

The study showed that solar and wind accounted for 92% of all investment: Solar jumped 25% to $149.6 billion, the second-highest figure ever, while wind investments rose 11% to a record $99.5 billion.

Major expansions of solar installations in China and Japan and record investments in offshore wind projects in Europe helped propel global investments to $270 billion, a 17% surge from the 2013 figure of $232 billion.

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