That’s a lot of clean power. Almost half of new electricity generation is now renewable, and the costs of wind and solar power are falling sharply. It “should give governments confidence to forge a robust climate agreement” next year, says Achim Steiner, director of the United Nations Environment Programme (UNEP).
This comes a week before the Intergovernmental Panel on Climate Change’s assessment of how to prevent dangerous climate change. The IPCC will stress the importance of quickly converting to renewables.
The latest annual Global Trends in Renewable Energy Investment, published today by UNEP, reveals that 44 per cent of all generating capacity installed last year around the world was renewable. That is despite a 14 per cent decline in renewables investment, and in new electricity generally.
But the politics of green energy are changing fast. China is now the world’s leader, having overtaken Europe. Last year, China invested $56 billion in green power.