A new study has found that last year, global investment in solar power was more than in any other energy technology. China was proclaimed world leader in solar and renewable investment. Also, the world installed more new solar capacity than all other energy sources combined – fossil fuels included.
The report, a collaboration between the United Nations Environment Program, Bloomberg New Energy Finance, and the Frankfurt School of Finance and Management, found that investors committed $279.8 billion to renewable energy overall, excluding large dams, and $160.8 billion to solar specifically.
“The extraordinary surge in solar investment shows how the global energy map is changing and, more importantly, what the economic benefits are of such a shift,” UNEP head Erik Solheim said in a press release.
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