UN Report Says China's Renewable Energy Investment Leads Globally

A report issued by the UN Environment Agency on the 5th pointed out that as of 2017, the annual amount of renewable energy in the world has exceeded 200 billion U.S. dollars for eight consecutive years. The report shows that China is by far the world’s largest renewable energy investor. Last year, the amount of investment increased by 31% from 2016 to US$126.6 billion. At the same time, the major driving force behind the sharp increase in solar investment last year was China.

Data Figure: Tower-type solar thermal power station. China Sun News reporter Sun Ruishe

On the 5th, the "2018 Global Renewable Energy Investment Trends Report" jointly issued by UNEP, Frankfurt School of Economics and Management - UNEP Cooperation Center and Bloomberg New Energy Finance in Frankfurt, Germany showed that the cost of solar power generation and some wind energy costs continued to decline. Promote the development of renewable energy. Last year was the eighth year that the global investment in renewable energy continued to exceed $200 billion. Since 2004, the world has invested $2.9 trillion in green energy.

The report pointed out that in 2017, the global installed capacity of solar power increased by 98 GW (GW), far exceeding the net increase of renewable energy, fossil energy and other power generation technologies such as nuclear power. China has played a major driving force in this process. The role of the country’s new country is 53 GW installed capacity, accounting for more than half of the world’s newly installed capacity, and its investment amount has increased by 58% year-on-year to 86.5 billion US dollars.

According to the report, overall, China is by far the largest renewable energy investor in the world, and its investment has increased by 31% compared to 2016, reaching a record of US$126.6 billion.

In the same period of last year, the investment in Australia (increased by 147% to 8.5 billion U.S. dollars), Mexico (by 81% to 6 billion U.S. dollars), and Sweden (by 127% to 3.7 billion U.S. dollars) also rose sharply.

Erik Solheim, executive director of the UN Environment Agency, said: 'The dramatic increase in solar investment indicates that the global energy landscape is changing, and more importantly, it reveals the economic benefits of this transformation.

Solheim said that investing in renewable energy will benefit more people because it can provide more high-quality and high-paying jobs. Clean energy also means less pollution, which means healthier, More cheerful development.

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