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World adds record renewables

June 9, 2017 11:34 am Category: Latest News, Research & Finance A+ / A-

Offshore wind in Denmark, a world leader in renewable investment

The world is adding more energy capacity from renewables than from all fossil fuels combined each year, according to a report backed by the United Nations.

The REN21 report launched this week showed that around the world, 2017 gigawatts of renewable energy capacity was added in 2015. Solar photovoltaic comprises the largest share, at 47 percent, followed by wind at 34 percent and hydro at 15.5 percent.

The report was sponsored by the UN Environment Program, and reported that for the fifth consecutive year, investment in new renewables, including hydro, was worth around US$250 billion and roughly double the investment in fossil fuels.

The UNEP pointed to recent examples in Denmark, Egypt, India, Mexico, Peru and the UAE as evidence of how renewables were being embraced, and invested in, throughout the world.

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