2015 Beat the Record for Government Funding of Renewable Resources

2015+Beat+the+Record+for+Government+Funding+of+Renewable+Resources

Global growth in renewable energy had its biggest annual growth ever in 2015, with Wind and solar energy investments lead the growth, reported utilitydive.com.

In total, the global clean energy investment hit a record breaking $328.9 billion, 4% over 2014’s $315.9 billion, according to utilitydive.com.

The investment for renewable resources overtook the new fossil fuel investments, with $253 billion going into new coal, oil and gas projects in 2015. Top-five locations the money went to were China, the U.S., Japan, the UK and India, explained ecowatch.com.

“Finally, the European economy that long drove renewable growth continued to be weak but China, the U.S., and new markets in Mexico, Chile, South Africa, and Morocco picked up the slack,” stated utilitydrive.com.

The government spent the most on wind and solar development. This limits polluting coal-fired power stations and create international champions. Reported marketwatch.com.

The year 2015 was the first time that more money was invested in clean energy. The investment report calls 2015 a “breakout year” for the Middle East and Africa is an area to look at in the next few years to come, reported ecowatch.com.