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World moving to green power, invests $2.9trn
News & Trends •
a driving power behind last years surge in solar was china where an unprecedented boom saw some 53 gigawatts added more than half the global total and 86.5 billion dollars invested up 58 per cent1 the world is steadily moving to green power sources as it invested 2.9 trillion in green energy sources since 20041 the report indicates a steady move away from fossil fuel-based power production and that solar energy dominated global investment in new power generation like never before in 20171 it added that 2017 was the eighth in a row in which global investment in renewables exceeded 200 billion dollars and1 in 2017 the world installed a record 98 gigawatts of new solar capacity far more than the net additions of the rest other renewable fossil fuel and nuclear according to the report1 the report added that solar power also attracted far more investment than any other technology at 160.8 billion dollars up 18 per cent1 a new un-backed report on global trends in renewable energy investment 2018 was released on thursday by the un environment programme unep and its partners1 the extraordinary surge in solar investment shows how the global energy map is changing and more importantly what the economic benefits are of such a shift1 investments in renewables bring more people into the economy they deliver more jobs better quality jobs and better paid jobs1 clean energy also means less pollution which means healthier happier development unep chief erik solheim said1 it said 2017 was the eighth in a row in which global investment in renewables exceeded 200 billion dollars and since 2004 the world had invested 2.9 trillion dollars in these green energy sources1 overall china was by far the worlds largest investing country in renewables at a record 126.6 billion dollars up 31 per cent on 20161 there were also sharp increases in investment in australia up 147 per cent to 8.5 billion dollars mexico up 810 per cent to six billion dollars and sweden up 127 per cent to 3.7 billion dollars. nan1