A record $367 billion was invested in renewable energy around the world last year, according to a new report published February 29 by Clean Energy Canada.
That’s over a third of a trillion dollars (USD), and a 7% increase on 2014.
Whereas the oil price crash had everyone expecting renewable energy projects to stumble last year, this latest analysis shows that the sector actually boomed.
Global renewables investment since 2011 – let’s not talk about 2013.
New renewables investment significantly overtook new fossil fuel investments, with ‘only’ $253bn going into new coal, oil and gas projects in 2015.
The top-five destinations for clean energy investment dollars were China ($110.5bn), the United States ($56bn), Japan ($46bn), the UK ($23.4bn) and India ($10.9bn).
Renewables investment was up 24% from 2014 in the UK and 23% in India, although it fell by an embarrassing 46% in Canada. Which somehow didn’t affect Canada’s global ranking – it’s still number 8.
Renewables spending has really kicked off in emerging economies.And 2015 was the first time that more money was invested in clean energy in developing countries ($167bn) than developed countries ($162bn).
The report calls 2015 a “breakout year” for the Middle East – especially for solar – and names Africa as another region to watch in the next few years.
These pretty impressive numbers (Canada aside) probably have something to do with the plummeting costs associated with renewable energy. The report finds that the unsubsidised cost of wind energy is down 61% since 2009, and utility-scale solar PV is down 82%.
So. Happy Monday clean energy fans.
We’re not backing down in the face of Trump’s threats.
As Donald Trump is inaugurated a second time, independent media organizations are faced with urgent mandates: Tell the truth more loudly than ever before. Do that work even as our standard modes of distribution (such as social media platforms) are being manipulated and curtailed by forces of fascist repression and ruthless capitalism. Do that work even as journalism and journalists face targeted attacks, including from the government itself. And do that work in community, never forgetting that we’re not shouting into a faceless void – we’re reaching out to real people amid a life-threatening political climate.
Our task is formidable, and it requires us to ground ourselves in our principles, remind ourselves of our utility, dig in and commit.
As a dizzying number of corporate news organizations – either through need or greed – rush to implement new ways to further monetize their content, and others acquiesce to Trump’s wishes, now is a time for movement media-makers to double down on community-first models.
At Truthout, we are reaffirming our commitments on this front: We won’t run ads or have a paywall because we believe that everyone should have access to information, and that access should exist without barriers and free of distractions from craven corporate interests. We recognize the implications for democracy when information-seekers click a link only to find the article trapped behind a paywall or buried on a page with dozens of invasive ads. The laws of capitalism dictate an unending increase in monetization, and much of the media simply follows those laws. Truthout and many of our peers are dedicating ourselves to following other paths – a commitment which feels vital in a moment when corporations are evermore overtly embedded in government.
Over 80 percent of Truthout‘s funding comes from small individual donations from our community of readers, and the remaining 20 percent comes from a handful of social justice-oriented foundations. Over a third of our total budget is supported by recurring monthly donors, many of whom give because they want to help us keep Truthout barrier-free for everyone.
You can help by giving today. Whether you can make a small monthly donation or a larger gift, Truthout only works with your support.