2014 Investment in Renewable Energy Reverses 2-year Decline - 1st April
New U.N. figures released, suggest that global investment in renewable energy has reached its second highest level in 2014 following 2 years of decline.
Investment in renewable energy has increased by 17% on the previous 2 years, this equates to approximately $270 billion of investment and generating 103 gigawatts of new renewable electricity. This investment comes after the hottest summer on record in 2014.
Europe was only behind China in renewable energy investment last year as they pumped $58 billion in to new renewable energy projects.
It is thought that 9% of global energy came from renewable sources in 2014, up from 8.5% from the previous year. Solar and wind energy showed the greatest levels of investment, increasing 25% and 11% respectively from 2013. Marked changes have been seen in the development of small-scale renewable-energy projects as they saw a 34% increase representing a timely move away from large centralised power stations.
These technologies are now an important part of the global energy mix, and their importance will only increase as markets mature and reducing technology prices with governments moving towards greener energy production.
These figures have been published at the same time the USA has committed to a 28% emissions cut on 2005 levels by 2025.
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