Renewable energy investment in 2018 hit USD 288.9 billion, far exceeding fossil fuel investment – UN environment

“Global investment in renewable energy hit USD 288.9 billion in 2018, with the amount spent on new capacity far exceeding the financial backing for new fossil fuel power, according to new figures published today.

These numbers, produced by BloombergNEF (BNEF), are being published today as part of REN21’s Renewables 2019 Global Status Report.”

“Global trends continue to indicate that investing in renewable energy is investing in a profitable future. Investments in renewable energy in 2018 were three times higher than the amount invested in new coal and gas-fired generators,” said Inger Andersen, Executive Director of the UN Environment Programme. “While this is encouraging, we need to significantly step up the pace, if we are to meet international climate & development goals.”