Renewables investment hits record level in 2015
Analysis by Bloomberg New Energy Finance (BNEF) has revealed that global renewables investment reached a new record level last year despite a decline in Europe. Published on Thursday 24 March, the figures showed that global investment in the sector reached $285.9bn in 2015––up 5% on the previous year. It was the first year in which investment in renewables excluding large hydro was higher in developing rather than developed economies, with China, India and Brazil committing $156bn overall. By contrast, investment in Europe dropped by 21% to $48.8bn despite a record year of financings for offshore wind. Renewables investment in the US was up 19% to $44.1bn.