Renewable energy investment in 2018 hit USD 288.9 billion, far exceeding fossil fuel investment

Global investment 11 per cent down compared to 2017, driven in part by falling solar costs Renewable energy investment in most of the developing world increased 6 per cent to USD 61.6 billion, a record high Investment in Europe rose 39 per cent to USD 61.2 billion Frankfurt/Nairobi, 18 June 2019 – Global investment in renewable energy hit USD 288.9 billion in 2018, with the amount spent on new capacity far exceeding the financial backing for new fossil fuel power, according to new figures published today. These numbers, produced by BloombergNEF (BNEF), are being published today as part of REN21’s Renewables 2019 Global Status Report . The numbers show that while investment was 11 per cent down over the previous year, 2018 was the ninth successive year in which it exceeded USD 200 billion and the fifth successive year above USD 250 billion. The figure does not include hydropower above 50MW, which saw an additional USD 16 billion invested – also down on 2017, when USD 40 billion was invested. The dip in investment in 2018 can be partly attributed to falling technology costs in solar photovoltaics, which meant that the required capacity could be secured at a lower […]

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