Newly measures estimates by Bloomberg New Energy Finance (BNEF) have revealed how last year proved to be an annual global investment for clean energy space – approx. US$ 329 billion invested in wind, biomass plants and solar panels all over the world excluding investments in large hydroelectric facilities.
Annual 2015 estimates are bullish in comparison to US$ 318 billion global investment of year 2011 despite of cheap coal, oil and natural gas.The energy investment is believed to be just 4% in comparison to year 2014 estimates percentage, yet the renewable energy generation capacity has been bullish with 30%. This surely points towards low cost of the fossil fuels.Not to mention, coal and natural gas prices got considerably cheaper over the second half between 2014-2015.
“When it comes to fossil fuels, prices have been low, continue to stay low, and yet we continue to see strong growth of wind and solar, and it speaks to the fact that again, these technologies are becoming more cost competitive.” – Ethan Zindler
World has cited an additional 64 gigawatts of wind capacity while 57 gigawatts of solar capacity. Overall, the addition of 121 gigawatts of solar and wind globally (also a record) means that roughly half of new electricity generating capacity installed last year was in these two technologies.
Last week statements by New York governor Andrew Cuomo stated state’s plan to eliminate entire coal usage in New York by year 2020 – came right after when president Barrack Obama suggested a revival strategy in crude and coal management resources for better-off attention at the cost of how they ruin this planet and concern taxpayers. He suggested for possible policy moves in limiting coal leasing on public American lands. India — the most eyed energy nation in the world at the moment — might lead energy world as it plansto install 175 gigawatts of clean energy generating capacity by year 2022.
The fossil fuel is preferred to be least touched in order to restrain global warming – of more than 2 degrees Celsius — due to carbon accumulation in atmosphere. Last year International Energy Agency also stated: “Between now and year 2020, renewable energy will be the largest area for growth, predicting 700 gigawatts of added generating capacity.”
So far, year 2015 has been estimated as clean energy space for generating capacity. The percentage is likely to hike in future upcoming years.This year is likely to yield somewhat same.
