Global New Energy Investment To Triple
Global renewables investment to triple this decade - U.N.
Nina Chestney w/Dale Hudson, September 5, 2019 (CNBC)
"Global investment in new capacity for renewable energy is on course to reach $2.6 trillion by the end of this decade, more than triple the amount of the previous decade…The figure excludes large hydropower projects and is equivalent to 1.2 terawatts (TW) of new renewable energy capacity…more than today’s entire U.S. electricity generation…The increase stems from a fall in interest rates in major economies] and a drop in the levelized cost of generating a megawatt hour of electricity, the upfront capital and development cost, the cost of equity and debt finance and operating and maintenance fees of] solar photovoltaics down 81%, onshore wind down 46% and offshore wind down 44% this decade…
…[China] committed $758 billion between 2010 and mid-2019. Over the same period, Europe invested $698 billion and the United States spent $356 billion,.. Solar power has attracted the most investment this decade at $1.3 trillion. By the end of this year, there will be more solar capacity installed this decade - 638 gigawatts (GW) - than any other power generation technology…Despite the growth of renewables, global power sector emissions are likely to have risen by at least 10% by the end of this decade…” click here for more