Space Travel News  
WIND DAILY
Developing nations became top investors in renewables in 2015: UN
By Marlowe HOOD
Paris (AFP) March 24, 2016


Investment in renewable energy hit a record $286 billion (256 billion euros) in 2015, more than half of which came from developing countries for the first time, according to a UN report released Thursday.

All told, new money put into solar, wind, biofuels and other cleaner energy technologies has exceeded $2.3 trillion since 2004, when total investment was less than $50 billion, it said.

"Renewables are becoming ever more central to our low-carbon lifestyles," said Achim Steiner, executive director of the UN Environment Programme (UNEP), which co-wrote the report.

"Importantly, for the first time in 2015, renewables investments were higher in developing countries than developed."

That shift was led by China and India, both of which have invested heavily in clean energy even as their juggernaut economies continue to be mainly powered by carbon-intensive fossil fuels.

Renewables added more to global energy generation capacity in 2015 than all other technologies combined, including nuclear, coal, gas and mega-hydro projects of more than 50 megawatts.

Despite rock-bottom fossil fuel prices, new clean energy capacity -- even excluding nuclear -- outstripped new coal and gas by more than 100 percent, said the report, Global Trends in Renewable Energy Investment 2016.

The rapid transition to renewables, especially in developing and emerging economies, is "helped by sharply reduced costs, and by the benefits of local power production over reliance on imported commodities," said Michael Liebreich, chairman of the advisory board of Bloomberg New Energy Finance, which co-launched the report.

As in previous years, the growth in clean energy in 2015 was dominated by solar photovoltaics and wind, which together added 118 gigawatts in generating capacity, nearly a quarter more than the year before.

Wind contributed 62GW and photovoltaics 56 GW, with more modest inputs coming from biomass, geothermal, solar thermal and "waste-to-power", in which waste products are recycled.

The fact that renewables far exceeded conventional energy for new capacity in 2015 shows that a "structural change is underway", the report said.

But the ultimate goal of a "carbon neutral" global economy enshrined by the world's nations at UN climate talks in Paris in December is still a distant prospect.

Excluding major hydro projects, renewables still only account for 16 percent of the world's total power capacity, even if that figure has consistently climbed by double digits in recent years.

- Plummeting costs -

Actual electricity generated is even less -- barely 10 percent.

"Despite the ambitious signals from COP21 and the growing capacity of new installed renewable energy, there is still a long way to go," said Udo Steffens, president of the Frankfurt School or Finance and Management.

The Paris Agreement inked at the 195-nation "COP21" talks vowed to cap global warming at below two degrees Celsius (3.6 degrees Fahrenheit), a goal that scientists say will require a wholesale shift away from fossil fuels.

Much of the record-breaking investment in clean energy last year came from China, which spent nearly $103 billion (92 billion euros), 17 percent more than in 2014 and 36 percent of the world total.

India was a distant second, spending $10.2 billion, followed by South Africa ($4.5 billion), Mexico ($4 billion) and Chile ($3.4 billion).

Morocco, Turkey and Uruguay filled out the list of nations investing at least $1 billion.

Overall, developing countries poured 17 times more money into clean energy last year than in 2004.

Among wealthy nations, investment in Europe was down 21 percent, from $62 billion in 2014 to $48.8 billion in 2015, the continent's lowest figure in nearly a decade despite record development of offshore wind power.

US investment rose 19 percent to $44.1 billion, while Japan's held steady at $36.2 billion.

The shift away from rich nations can be attributed to China's breakneck dash to develop wind and solar, along with rapidly rising energy demand in emerging economies coupled with plummeting costs.

Sluggish economic growth in Europe, as well as cutbacks in subsidies, reinforce the trend, the report said.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
Wind Energy News at Wind Daily






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
WIND DAILY
Statoil testing battery storage for wind energy
Aberdeen, Scotland (UPI) Mar 21, 2016
Norwegian energy company Statoil said it started a pilot project for battery storage of energy generated from wind at a project off the coast of Scotland. Dubbed Batwind, the company said it was pioneering an energy-storage solution at its Hywind floating offshore wind farm. The development is steered through a memorandum of understanding signed between Statoil, the Scottish government ... read more


WIND DAILY
Launch of Dragon Spacecraft to ISS Postponed Until April

ILS and INMARSAT Agree To Future Proton Launch

Soyuz 2-1B Carrier Rocket Launched From Baikonur

ISRO launches PSLV C32, India's sixth navigation satellite

WIND DAILY
ExoMars probe imaged en route to Mars

How the ExoMars mission could sniff out life on Mars

ExoMars on its way to solve the Red Planet's mysteries

Europe's New Mars Mission Bringing NASA Radios Along

WIND DAILY
Permanent Lunar Colony Possible in 10 Years

China to use data relay satellite to explore dark side of moon

NASA May Return to Moon, But Only After Cutting Off ISS

Lunar love: When science meets artistry

WIND DAILY
Dust counter got few 'hits' on Pluto flyby

Pluto's 'Snakeskin' Terrain: Cradle of the Solar System?

What's Eating at Pluto?

Methane Snow on Pluto's Peaks

WIND DAILY
VLA shows earliest stages of planet formation

VLA observes earliest stages of planet formation

NASA's K2 mission: Kepler second chance to shine

Star eruptions create and scatter elements with Earth-like composition

WIND DAILY
Robert Goddard's Rocket and the Launch of Spaceflight

Engine Test Marks Major Milestone on NASA's Journey to Mars

NASA Prepares to Fly - First RS-25 Flight Engine Test Set for March

US to Buy Eight Russian RD-181 Rocket Engines

WIND DAILY
China to establish first commercial rocket launch company

China's ambition after space station

Sky is the limit for China's national strategy

Aim Higher: China Plans to Send Rover to Mars in 2020

WIND DAILY
Rosetta finds magnetic field-free bubble at comet

Unexpected changes of bright spots on Ceres discovered

As Cold as Ice and as Old as the Sun: Cool Findings on Comet Churi

Comet's age revealed by the type of ice it carries









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.