Global Clean Technology Investments - Statistics & Facts
Clean energy investment has largely increased over the last decade, in spite of factors that would generally inhibit funding. A stronger U.S. dollar and a weaker E.U. economy, as well as the crash of fossil fuel commodity prices, might otherwise have led to a reduction in clean energy investments, but this has been offset by the continued cost reduction of solar photovoltaics, allowing more capacity to be installed for less. Heightened funding in this sector indicates that renewable energies are becoming more cost-competitive, and in particular, wind and solar energy. Many developing countries are adopting wind and solar power, which are often cheaper than wholesale power prices. Many renewable sources can also be constructed quickly to meet electricity demands.
The 2015 Paris Agreement has been one indication of the global commitment to mitigate climate change and may have persuaded many countries to minimize their fossil fuel reliance in the pursuit of increased renewables. China, which continues to increase its renewable power infrastructure, has quickly become one of the leaders in clean energy investment. The Chinese government has promoted the use of solar and wind developments and begun to limit its reliance on coal sources. Other regions, like Africa, the United States, Latin America, and India, also continue to drive clean energy stimulus, although global investments in solar and wind energy still vastly overshadow funding into other renewable sources. Despite these promising figures in clean energy investment, it is currently estimated that only about 15 percent of investment into global energy supply is dedicated to renewable energy sources.
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