It was indeed a record setting year for renewable energy, as the solar, wind and other renewable attracted a record $266 billion of global investment.
The amount is more than double the annual global investment witnessed in the non renewable, coal and gas fired electricity generation last year.
According to a report published by the United Nations Environment Programme (UNEP), the achievement is one of several important firsts for green energy, announced recently by UN. "Renewables are becoming ever more central to our low-carbon lifestyles, and the record-setting investments in 2015 are further proof of this trend,” said UNEP Executive Director Achim Steiner.
“Importantly, for the first time in 2015, renewables in investments were higher in developing countries than developed,” he added.
Global Trends in Renewable Energy Investment 2016, the 10th edition of the UNEP's annual publication says, "The annual global investment in new renewables capacity, at $266 billion, was more than double the estimated $130 billion invested in coal and gas power stations in 2015.”
The report added that the total investments in renewables, which includes the early-stage technology and research and development as well as spending on new capacity, amounted to $286 billion in 2015, the figure is 3 percent higher than the previous record in 2011 i.e. $279 billion.
The globe has invested almost $2.3 trillion in renewable energy since 2004.
About the amount of electricity added to the system, as per the report 134 gigawatts (GW) of renewable power was added worldwide in 2015 compares to 106GW in 2014.
"Access to clean, modern energy is of enormous value for all societies, but especially so in regions where reliable energy can offer profound improvements in quality of life, economic development and environmental sustainability. Continued and increased investment in renewables is not only good for people and planet, but will be a key element in achieving international targets on climate change and sustainable development," said Mr. Steiner.
Were it not for renewable added that does not include large hydro plants, annual global CO2emissions would have been an estimated 1.5 gigatonnes higher in 2015.
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