NewEnergyNews: World Investment Reorients Toward New Energy

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    Friday, September 16, 2016

    World Investment Reorients Toward New Energy

    Global energy investment down 8% in 2015 with flows signaling move towards cleaner energy

    September 14, 2016 (International Energy Agency)

    “…[G]lobal energy investment fell by 8% in 2015, with a drop in oil and gas upstream spending outweighing continued robust investment in renewables, electricity networks and energy efficiency…Total investment in the energy sector reached USD 1.8 trillion in 2015, down from USD 2.0 trillion in 2014, according to World Energy Investment 2016 (WEI 2016)…[T]he energy system is undergoing a broad reorientation toward low-carbon energy and efficiency but investment in key clean energy technologies needs to be further ramped up to put the world economy on track for climate stabilisation…With energy supply spending of USD 315 billion, China was once again the world’s largest energy investor last year thanks to robust efforts in building up low-carbon generation and electricity networks, as well as implementing energy efficiency policies…Investment in the United States’ energy supply declined to about USD 280 billion in 2015, falling nearly USD 75billion, due to low oil prices and cost deflation…Renewable energy investments of USD 313 billion accounted for nearly a fifth of total energy spending last year, establishing renewables as the largest source of power investment…” click here for more

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