The UN has released a report that shows that global investment in renewable energy hit a record high in 2015. Also, for the first time, more new renewables capacity than fossil-fuel generation came online during 2015.
Investment in renewable energy
The headline is that “global investment in renewable energy hit a record US$285.9bn (£202.3bn) in 2015, beating the previous high of $278.5bn set in 2011.”
This was more than double the investment of $130bn in coal and gas power stations in 2015. It sets a new investment record and brings spending on renewable energy since 2004 to a total, adjusted for inflation, of $2.3 trillion.
More renewables than fossil fuels in 2015
In another first, more new renewables capacity than fossil-fuel generation came online during 2015.
According to the UN report on Global Trends in Renewable Energy Investment 2016, that same push added 134 gigawatts of renewable power worldwide. One gigawatt is enough to supply the needs of 750,000 typical US homes.
What that means for climate change
The 2015 investment in renewables globally saved the atmosphere the burden of an estimated 1.5 gigatonnes of carbon dioxide emissions. Human activities, chiefly the burning of fossil fuels and changes in land use, add an extra 29 gigatonnes of CO2 to the atmosphere annually.
Do your bit: invest in Southill Solar
Here are some stark facts about the environmental benefits that Southill Solar will bring.
- Save around 2,372 tonnes of carbon a year, or approximately 60,000 tonnes over the lifetime of the project
- Clean, green power for 3 villages - Charlbury, Finstock and Fawler.
- Better biodiversity on the site – a haven for wildlife for 25 years.
- Investing 30,000 a year into other local energy projects – so the environmental benefits are larger than just our site.
- Educating schools and other community energy groups.
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Read the UN reports
Read the UN study and the BBC report.
- Download the study: Global trends in renewables investment
- Read the BBC report: 2015 record year for global renewables investment