Global investment spend in 2015 was $136bn more for solar, wind and other renewable technologies than investment in coal and gas, according to a new report on global energy trends by the United Nations Environment Programme (UNEP) and Bloomberg New Energy Finance (BNEF) and reported in the Environmentalist today.
Of the global energy generation added last year, renewables (excluding large-scale hydro) made up more than half (54%). With solar photovoltaics and wind being the largest contributors.
Investment in developing countries was $26bn more than in developed countries, with investment in developed countries actually falling by 8% compared to 2014. In Europe, there was a 21% fall despite record high investment in offshore wind.
In terms of the global investment league, the UK was the fourth highest contributor of renewable technology investment.
However, it is believed this was due to a push by developers to complete sites quickly due to impending subsidy cuts by the government, meaning that investment is predicted to fall in 2016.
Whilst there is still much progress to be made, total global electricity generation by renewables (excluding large-scale hydro) is slowly increasing, from 9.1% in 2014 to 10.3% in 2015, which is promising.
These figures are of course a representation of the renewables sector globally, although within the UK the statstics are fairly similar.
We know that this sector has faced challenges, but it is clear that commercial businesses and investors wish to embrace renewable technologies as a sustainable option that still offer revenue opportunities. Renewable technology opportunities are not simply about Feed-In-Tarrif revenue.
For commercial businesses and public sector properties, it's more than simply "What you can claim back". It's about sustainability, energy cost control and of course with us continuing to face a threat of the Energy Trilemma, it's about "Keeping the lights on".
Our advisers can guide you through planning your renewable energy technologies.
Call 01563 829 999 to make an investment in the renewable future.