Two things here. Much of the new energy has been built out, and what is happening now is that the utilities are replacing currently existing fossil fuel plants with renewables. Another factor is now there are many orders for grid scale batteries and other means of energy storage, and that is not being counted as investments in renewables, although it increases the practicality of renewables by a couple of orders of magnitude.
Worldwide investment in clean energy 2004-2019
Published by
Madhumitha Jaganmohan
, Jan 27, 2021
In 2019, the total new investment in renewable energy amounted to approximately 302 billion U.S. dollars worldwide. This was a two percent increase from the previous year.
The amount of funding provided for clean energy worldwide has steadily increased over the last two decades. In 2004, clean energy investments totaled just under 37 billion U.S. dollars and increased to a peak of 331 billion U.S. dollars in 2017. The significant increase in investment funding indicates that the industry has matured greatly. Policy support for renewable sources, an accelerating industry, and the emergence of publicly listed companies that own renewable energy assets (also known as yieldcos) have driven the steady rise in clean energy investment.
Investment is highest for both solar and wind
There are many sources of renewable energy available these days, such as biomass and waste-to-energy, geothermal and marine. However,
investment in solar and wind energy is by far the highest.
Global investment in solar energy has soured since 2004, rising from just over 10 billion U.S. dollars to more than 140 billion U.S. dollars.
China leads the way
The
countries with the highest investment in renewable energy are China and the United States, with investment in the former amounting to 90 billion U.S. dollars in 2019. However, this was a slight decrease from the previous year whilst investment in the United States experienced growth of 25 percent.
In 2022, the total new investment in renewable energy amounted to approximately 495 billion U.S.
www.statista.com