PRI’s The World: Renewable investment hits record high
January 28, 2016
via Carolyn Beeler, PRI’s The World
Oil prices hit 12-year lows this month as coal and natural gas prices remain low as well.
But seemingly counterintuitively, renewable energy investments were at record highs in 2015, climbing 4 percent to nearly $330 billion worldwide according to a recent report from Bloomberg New Energy Finance.
“People are beginning to appreciate that actually, the renewables revolution will go on even if oil, coal and gas keep on getting cheaper,” said Bloomberg New Energy Finance senior analyst Angus McCrone. “I think it certainly marks a change from around the 2007 period, where people equated interest in renewables with high oil prices and saw the two as very much hand-in-glove.”
BloombergNEF (BNEF) is a strategic research provider covering global commodity markets and the disruptive technologies driving the transition to a low-carbon economy. Our expert coverage assesses pathways for the power, transport, industry, buildings and agriculture sectors to adapt to the energy transition. We help commodity trading, corporate strategy, finance and policy professionals navigate change and generate opportunities.