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A Decade of Global Investments in Renewables Hits USD 2.6 Trillion

New renewable energy capacity and its Global investment in this decade—2010 to 2019 including—is on track to hit USD 2.6 trillion, with extra gigawatts of solar power capacity put in than another generation expertise, according to new figures published.

Based on Global Trends in Renewable Energy Investment 2019 report, launched forward of the UN Global Climate Action Summit, this investment is about to have roughly quadrupled renewable energy capacity (excluding giant hydro) from 414 GW on the end of 2009 to only over 1,650 GW when the decade closes on the end of this year.

Solar power can have drawn half—USD 1.3 trillion—of the USD 2.6 trillion in renewable vitality capability investments remodeled the decade. Solar alone may have grown from 25 GW at the beginning of 2010 to an expected 663 GW by the shut of 2019—enough to supply all the electricity wanted annually by about 100 million average homes in the USA.

The global percentage of electricity technology accounted for by renewables reached 12.9 percent, in 2018, up from 11.6 percent in 2017. This prevented an estimated 2 billion tonnes of carbon dioxide emissions last year alone—substantial savings given world energy sector emissions of 13.7 billion tonnes in 2018.

Together with all leading producing technologies (fossil and zero-carbon), the last decade is about to see a net 2,366 GW of energy capacity installed, with solar accounting for the most significant single share (638 GW), coal second (529 GW), and wind and fuel in third and fourth places (487 GW and 438 GW respectively), and wind and gas in third and fourth places (487 GW and 438 GW respectively).

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