Wednesday, April 01, 2015

A new record in renewable energy

New renewable generating capacity broke the 100GW barrier in 2014, equivalent to the entire fleet of nuclear power plants in the US, a UN report shows.

By Mark Kinver, Environment reporter, BBC News

Global investment in renewable energy during 2014 increased by 17% from 2013 levels to US$270bn (£183bn).

Investors have been attracted by the increasing cost effectiveness and low risk of the solar and wind sectors.

The analysis has been published by the UN Environment Programme (Unep) and Bloomberg New Energy Finance.

"We have a continuation of what we have seen in previous years, which is a concentration of investment in two sectors - solar and wind," explained Eric Usher, lead editor of the Global Trends in Renewable Energy Investment.Offshore wind projects in Europe was a driving force behind European investment in renewables

Mr Usher, head of the Unep Finance Initiative, said that both sectors had recorded a good year.

"Solar was up 29% to US$150bn, while wind was up 11% to almost US$100bn. The other sectors did less well, some are maturing but others have yet to mature.

"Technologically, solar is doing well at both small-scale (roof tops) and larger scale.

"The big story in wind, in developed economies — Europe particularly — is large-scale offshore, which had a very good year receiving US$18.6bn in financing in Europe alone."

(Continued here.)

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