Global renewable energy hits record levels
Investment in global renewable energy capacity reached $286bn in 2015 and was installed at the fastest rate in history
Investment in global renewable energy capacity reached $286 billion in 2015 and was installed at the fastest rate in history, according to a new study.
The Renewables Global Status Report shows that investments in renewables including solar, wind and hydropower in 2015 were more than double the amount spent on new coal and gas-fired power plants.
Emerging economies spent more than developed countries on renewable power for the first time and over 8 million people are now employed in the renewable energy industry worldwide.
Approximately 147 GW of new renewables capacity was added last year, with China, the US, Japan, UK and India adding on the largest share.
With China accounting for more than one-third of the global total, the developing countries outspent the richer nations on renewables for the first time.
The biggest investors were smaller nations including Mauritania, Honduras, Uruguay and Jamaica when measured against a country's GDP.
Despite a 21 per cent reduction in European investment in renewables, clean energy is now the leading source of electricity and covered 44 per cent of total EU capacity in 2015.