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A decade of renewable energy investment, led by solar, tops USD 2.5 trillion
Key Excerpts from Article on Website of United Nations Environment Programme
Posted: September 16th, 2019
https://www.unenvironment.org/news-and-stories/press-release...
Global investment in new renewable energy capacity over this decade 2010 to 2019 inclusive is on course to hit USD 2.6 trillion, with more gigawatts of solar power capacity installed than any other generation technology. This investment is set to have roughly quadrupled renewable energy capacity (excluding large hydro) from 414 GW at the end of 2009 to just over 1,650 GW when the decade closes at the end of this year. Solar power will have drawn half USD 1.3 trillion of the USD 2.6 trillion in renewable energy capacity investments made over the decade. Solar alone will have grown from 25 GW at the beginning of 2010 to an expected 663 GW by the close of 2019 enough to produce all the electricity needed each year by about 100 million average homes in the USA. The global share of electricity generation accounted for by renewables reached 12.9 per cent, in 2018, up from 11.6 per cent in 2017. This avoided an estimated 2 billion tonnes of carbon dioxide emissions last year alone a substantial saving given global power sector emissions of 13.7 billion tonnes in 2018. Including all major generating technologies (fossil and zero-carbon), the decade is set to see a net 2,366 GW of power capacity installed, with solar accounting for the largest single share (638 GW), coal second (529 GW), and wind and gas in third and fourth places (487 GW and 438 GW respectively).
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