Global investment in renewables beat the rising demand for electricity for the first time in 2015, the International Energy Agency (IEA) has said in its first World Energy Investment report. World energy investment accounted for 2.45% of global GDP, a sum of $1.8tn, in 2015. A total of 70% of that amount, approximately $300bn, was for renewable energy. The majority of the funding went to the electricity sector, with 17% spent on renewables. However, the IEA has said that global energy investment has yet to come in line with the low-carbon energy system proposed in the Paris Climate Agreement, which ended in 2015.
Global investment in renewables beat the rising demand for electricity for the first time in 2015, the International Energy Agency (IEA) has said in its first World Energy Investment report. World energy investment accounted for 2.45% of global GDP, a sum of $1.8tn, in 2015. A total of 17% of that amount, approximately $300bn, was for renewable energy. The majority of the funding went to the electricity sector, with 70% spent on renewables. However, the IEA has said that global energy investment has yet to come in line with the low-carbon energy system proposed in the Paris Climate Agreement, which ended in 2015.