Renewable energy had its best year ever in 2015, in terms of both investment and building.

As a relatively small industry, that might not be surprising.Without massive setbacks (like the 2008 financial crisis), and with a lot of room for growth, each successive year might be expected to be better than the one before.

What’s surprising is the scale, and the source of the most growth: developing countries.

Developing nations invested $156 billion in renewables in 2015—a 19% increase on the year before, and more than all richer nations combined. China was top, pumping more money into the sector than any other country, and building more wind, hydropower, and solar than anywhere else.

Total world investment in renewables was $285.9 billion, according to the authors of the Renewables 2016 Global Status Report from REN21, a group that tracks renewable energy developments.

By contrast, developed economies as a group saw a decline of around 8% in investment in renewables last year, particularly in Europe, where some markets have become saturated and where existing power grids sometimes struggle to incorporate renewable energy.
Across all economies, 147 gigawatts of renewable power capacity was added, the most ever built in a single year. And investment in renewables from developing countries outstripped investment from the developed world for the first time ever.
China is now the world leader in terms of installed renewables—by a long way.

Total world investment in renewables was $285.9 billion, according to the authors of the Renewables 2016 Global Status Report from REN21, a group that tracks renewable energy developments.

By contrast, developed economies as a group saw a decline of around 8% in investment in renewables last year, particularly in Europe, where some markets have become saturated and where existing power grids sometimes struggle to incorporate renewable energy.
Across all economies, 147 gigawatts of renewable power capacity was added, the most ever built in a single year. And investment in renewables from developing countries outstripped investment from the developed world for the first time ever.

China is now the world leader in terms of installed renewables—by a long way.

Source: Quartz

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