© Federal Ministry for Economic Affairs and Energy, Source: IEA, World Energy Investment Report 2016
More investment in renewables than in electricity generation from fossils
Taking a glance at worldwide investment in electricity generation, it’s clear that the global energy transition is in full swing. In 2015, more than double the amount of money was invested in electricity generation from renewables than from fossils. Investors spent some $288 billion on renewables-based electricity generation, but invested just $111 billion in electricity from fossil sources, such as coal and natural gas. These figures are taken from the 2016 World Energy Investment Report, which was presented by the International Energy Agency (IEA) last autumn.
Political decision-makers from around the world gathered in Berlin for the Berlin Energy Transition Dialogue to discuss what investments are needed in the energy sector in order to meet the targets set in the Paris climate agreement (for more on this, please see preceding article).