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In 2020, despite the pandemic sweeping the world and lockdown measures taken by governments leading to a drop in demand, global investment in new renewable energy capacity reached US$303.
5 billion in 2020, up 2%
year-on-year, according to Bloomberg New Energy Finance BNEF tracking data.
It is also the second highest annual figure on record for BNEF after $313.
3 billion in 2017, and surpassed $250 billion for the seventh consecutive year
.
At the same time, with the increase in investment, the cost of capital has declined, with 132 GW of new solar energy and 73 GW of new wind power installed throughout the year, both reaching record levels
.
A big factor in investment growth in 2020 was a 56% jump in offshore wind financing to US$50 billion, including the single largest deal ever, the Dogger Bank project in the UK's North Sea, raising US$8.
3 billion with an installed capacity of 2.
5 GW
.
Investment in solar power increased 12% year-on-year to $148.
6 billion.
The world's largest single solar park landed in the UAE, costing US$1.
1 billion and generating an installed capacity of 2 GW
.
Overall, wind power investment (both onshore and offshore) reached US$142.
7 billion in 2020, down 6%
year-on-year.
Financing for biomass and waste-to-energy fell 3 percent to $10 billion
.
Regionally, European investment in new renewable energy capacity increased by 52% to US$81.
8 billion in 2020, the highest level since 2012 and second only to China's US$83.
6 billion (down 12% year-on-year).
The United States, the other largest investor in renewable energy, fell 20 percent to $49.
3 billion for the year, with wind investment nearly halving and India falling 36 percent to $6.
2 billion
.
Countries and regions that invested more than $10 billion in new renewable energy capacity in 2020 also included Japan, which increased by 10% to US$19.
3 billion, the United Kingdom by 177% to US$16.
2 billion, the Netherlands by 221% to US$14.
3 billion, and Spain by 16% to US$10 billion
.
In addition, Brazil increased by 23% to $8.
7 billion, Vietnam by 89% to US$7.
4 billion, France by 38% to US$7.
3 billion, and Germany by 14% to US$7.
1 billion
.
Other markets with more than $3 billion investment include Taiwan, Australia, South Korea, Poland, Chile, Turkey and Sweden
.
In 2020, despite the pandemic sweeping the world and lockdown measures taken by governments leading to a drop in demand, global investment in new renewable energy capacity reached US$303.
5 billion in 2020, up 2%
year-on-year, according to Bloomberg New Energy Finance BNEF tracking data.
It is also the second highest annual figure on record for BNEF after $313.
3 billion in 2017, and surpassed $250 billion for the seventh consecutive year
.
At the same time, with the increase in investment, the cost of capital has declined, with 132 GW of new solar energy and 73 GW of new wind power installed throughout the year, both reaching record levels
.
A big factor in investment growth in 2020 was a 56% jump in offshore wind financing to US$50 billion, including the single largest deal ever, the Dogger Bank project in the UK's North Sea, raising US$8.
3 billion with an installed capacity of 2.
5 GW
.
Investment in solar power increased 12% year-on-year to $148.
6 billion.
The world's largest single solar park landed in the UAE, costing US$1.
1 billion and generating an installed capacity of 2 GW
.
Overall, wind power investment (both onshore and offshore) reached US$142.
7 billion in 2020, down 6%
year-on-year.
Financing for biomass and waste-to-energy fell 3 percent to $10 billion
.
Regionally, European investment in new renewable energy capacity increased by 52% to US$81.
8 billion in 2020, the highest level since 2012 and second only to China's US$83.
6 billion (down 12% year-on-year).
The United States, the other largest investor in renewable energy, fell 20 percent to $49.
3 billion for the year, with wind investment nearly halving and India falling 36 percent to $6.
2 billion
.
Countries and regions that invested more than $10 billion in new renewable energy capacity in 2020 also included Japan, which increased by 10% to US$19.
3 billion, the United Kingdom by 177% to US$16.
2 billion, the Netherlands by 221% to US$14.
3 billion, and Spain by 16% to US$10 billion
.
In addition, Brazil increased by 23% to $8.
7 billion, Vietnam by 89% to US$7.
4 billion, France by 38% to US$7.
3 billion, and Germany by 14% to US$7.
1 billion
.
Other markets with more than $3 billion investment include Taiwan, Australia, South Korea, Poland, Chile, Turkey and Sweden
.
