Global investment in renewable energy (Solar, Wind, Hydro and biofuel) edged up 2% in 2017 to $279.8 billion, taking cumulative investment since 2010 to $2.2 trillion. The level of global renewable power spending has been virtually flat for seven years. There has been an increase in overall installed renewable power each year because of the dropping prices. A 2% increase in spending has resulted in 10% increase in global installations from 2016 to 2017.
A record 157 gigawatts of renewable power capacity was commissioned in 2017, up from 143GW in 2016. This was more than the 70GW of net fossil fuel generating capacity added last year. However, the installed fossil fuel power generates more kilowatt hours because of the low capacity factors of solar and wind power.
