Tuesday, December 17, 2019

global investment in renewable energy 2019

Highlights of global investment in renewable energy

renewable energy through Solar panels
Worldwide investment in renewable energy capacity is on track to have roughly quadrupled in the past decade, according to the Global Trends in Renewable Energy Investment 2019 report, released ahead of the UN Global Climate Action Summit. Global investment in this sector from 2010 throughc2019 is set to hit $2.6 trillion, with more gigawatts of solar power capaciity than any other generation technology. 

Solar power will have drawn half of the $2.6 trillion in renewable energy investments made over the decade. 

The global share of electricity generation accounted for by renewables reached 12.9% in 2018, up from 11.6% in 2017. This avoided an estimated two billion tons of carbon dioxide emissions last year alone—a substantial savings given global power sector emissions of 13.7 billion tons in 2018. 

The cost-competitiveness of renewables has also risen dramatically. The levelized cost of electricity is down 81% for solar photovoltaics since 2009; for onshore wind, it’s down 46%. China has been the biggest investor in renewables capacity over this decade, having committed $758 billion between 2010 and the first half of 2019, with the U.S. second on $356 billion and Japan third on $202 billion. Europe invested $698 billion in renewables capacity over the same period, with Germany and the United Kingdom contributing the most. 
reference www.unenvironment.org.
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