Global investment in low-carbon energy is set to hit $2.6trn by the end of this year, with large corporates driving this trend, new analysis from Bloomberg has concluded.
Pictured: Crossdykes Wind Farm, Dumfries and Galloway, Scotland. Image: Peter Brett
Published by Bloomberg’s New Energy Finance (BNEF) arm, the analysis’ findings have been compounded by the UN’s Environment Programme (UNEP).
The $2.6trn (£2.1trn) accounts for all money invested in new renewable energy arrays; expanding and updating existing facilities; procuring power; improving infrastructure and in research and development since 2010.
BNEF claims that the majority of this investment has been funnelled into wind and solar power, with global solar generation capacity having increased more than 2,500% during the past decade, from 25GW in January