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Sun and wind at its back: Clean energy investment during decade reaches the trillions
- November 1, 2019: Vol. 12, Number 10

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Sun and wind at its back: Clean energy investment during decade reaches the trillions

by Mike Consol

Investment in new renewable energy is on track to hit $2.6 trillion this decade (2010–2019), according to a study by BloombergNEF, conducted on behalf of the United Nations Environment Program and Frankfurt School’s UNEP Center. The investment boom has been driven in part by the falling costs of wind and solar power plants, which have now become affordable new markets, and at prices rivaling fossil fuels.

“Sharp falls in the cost of electricity from wind and solar over recent years have transformed the choice facing policymakers,” said Jon Moore, CEO of BloombergNEF, in a statement from the organization. “Now, in many countries around the world, either wind or solar is the cheapest option for electricity generation.”

Renewables, such as wind, solar and hydroelectric plants, will draw $322 billion a year through 2025, according to the International Energy Agency — almost triple the $116 billion a year that will be devoted to fossil fuel plants, and about t

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