Developing countries led the trend with a 36% surge at $131.3 billion, followed by China with $83.3 billion, according to a new study by the Frankfurt School-UNEP Collaborating Centre for Climate & Sustainable Energy Finance. Solar and wind still dominate the field, although geothermal enjoyed a 23% growth. Chances are the momentum will persist, especially if the industry can keep making the technology and the rates it affords competitive, experts say. The global agreement on greenhouse gas reductions that is expected at the United Nations Climate Conference in Paris later this year will hopefully contribute to setting the right regulatory context, nation by nation, for that prediction to come true.
Global investment in renewable energy grew 17% last year
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