The European Environment Agency’s (EEA) updated 2017 Renewable Energy in Europe report provides an insight into global developments in renewable energy investments.

The report reveals that, although the EU has played a pioneering role in developing renewables, investment activity spread to new markets. The EU’s share of global new investments in renewable energy declined from 46 % to 25 % between 2005 and 2016. In 2013, the EU was surpassed by China, that, since then, has established itself as a market leader in renewable energy investments. In 2016, China accounted for 32 % of global investments in renewable energy technologies. With regards to the United States, their share of investments has fluctuated around 15 % over the last 5 years, rising up to 19 % in 2016. In 2016, China, the EU, and the US accounted for approximately 76 % of global new investments in renewable energy technologies.

Taking a global perspective, investments in renewable energy sources dropped significantly (by 22%) in 2016. According to the EEA, the main reasons is the slowdown of investments from China (- 32 %), Asia and Oceania (- 42 %), Latin America, the Middle East and Africa; together with improved cost-competitiveness of renewable energy technologies.

Despite the decline of global investments in renewables, electricity from cleaner energy sources saw its largest increase ever since 2016, with an estimated 161 GW capacity added. Renewables accounted for 62 % of added net power generation capacity globally in 2016. In the European Union, renewables accounted for 86 % of the EU’s new capacity for electricity generation installed in 2016.

The gLAWcal Team