Solar soars: Renewable energy, by the numbers
Jay Dantinne/Unsplash

Solar soars: Renewable energy, by the numbers

Global investment climbs to $280 billion in 2017—and the economies leading the charge may surprise you.

Here's some material for your next trivia night or cocktail party.


1. The leading location by far for renewable energy investment last year was ____, with $126 billion invested—45 percent of the global total.

a) China

b) Europe

c) Saudi Arabia

(Note that the United States isn't even an option.)

2. Who saw the bigger decline in renewable energy investment in 2017:

a) Europe

b) United States

c) Japan

3. Of the top 10 countries investing in renewable energy, the biggest jump—810 percent, to $6 billion—was made by ______.

a) Australia

b) Mexico

c) Sweden

We'll get to the answers in a minute. For now, know that 2017 saw a record 157 gigawatts of renewable power commissioned, far outstripping the 70 GW of net fossil fuel generating power added.

Solar alone accounted for 98 GW, about 38 percent of the total, according to an assessment released Thursday by the United Nations Environment Program, the Frankfurt School-UNEP Collaborating Center for Climate & Sustainable Energy Finance, and Bloomberg New Energy Finance.

The sobering news: The proportion of world electricity generated by wind, solar, biomass and waste-to-energy, geothermal, marine and "small hydro" barely nudged despite those investments, creeping from 11 percent in 2016 to 12.1 percent in 2017.

"The world added more solar capacity than coal, gas, and nuclear plants combined," said Nils Stieglitz, president of Frankfurt School of Finance & Management, in a statement. "This shows where we are heading, although the fact that renewables altogether are still far from providing the majority of electricity means that we still have a long way to go."

Angus McCrone, Chief Editor of Bloomberg New Energy Finance and lead author of the report, said: "In countries that saw lower investment, it generally reflected a mixture of changes in policy support, the timing of large project financings, such as in offshore wind, and lower capital costs per megawatt."

Europe suffered a 36 percent decline renewable investments, to $40.9 billion, in large part because U.K. investments fell 65 percent as subsidies for onshore wind and utility-scale solar ended, report authors concluded. Germany also pulled Europe lower as costs-per-megawatt for offshore wind dropped and uncertainty grew over a shift to auctions for onshore wind.

But the good news, the report's authors stressed, is the flow of money: For the eighth year running, global investments in renewable energy topped $240 billion. Last year's total investment—$280 billion—was 2 percent higher than 2016's tally (but far below the all-time-high of $323 billion set in 2015). The cumulative global investment since 2004, according to the document, is $2.9 trillion.

As for those trivia question answers: China last year led the globe in investment, pouring $126 billion into renewable energy projects, a 35 percent bump from 2016. Europe saw the biggest drop, led in part by policy changes and market uncertainties in the U.K. and Germany.

And the biggest jump in investment among the top 10 countries pouring money into renewable infrastructure was Mexico. Investments within the United States, meanwhile, dropped 6 percent, to $40 billion.

Perhaps one day the U.S. will be throwing a power line over that border wall.

A view of water with wind turbines in the distance.
Credit: A. C/Unsplash+

Trump officials quietly tighten control over renewable energy projects on public lands

The U.S. Interior Department now requires wind and solar projects on federal land to receive personal approval from Secretary Doug Burgum, a move that could delay clean energy development across millions of acres.

Josh Siegel and Zack Colman report for POLITICO.

Keep reading...Show less
A bullet train speeding down the track with blurred landscape around it.

Trump pulls $4 billion from California bullet train project, escalating feud with Newsom

The Trump administration has revoked $4 billion in federal funding for California’s long-delayed high-speed rail line between Los Angeles and San Francisco, sparking legal threats from Gov. Gavin Newsom.

Frances Vinall reports for The Washington Post.

Keep reading...Show less
A man stands on a rock overlooking a hazy Grand Canyon on a sunny day.

Parks lose ground on clean air as wildfire smoke and budget cuts grow

Air quality across U.S. national parks has improved since the 1990s, but growing wildfire smoke and shrinking federal budgets threaten to reverse those gains.

Niko Kommenda reports for The Washington Post.

Keep reading...Show less
Coal plant with smokestacks and the setting sun in the distance.

Virginia clean energy advocates question reliability of new federal energy report promoting coal

A recent U.S. Department of Energy report ordered by President Trump promotes coal-fired power as essential to grid reliability, but Virginia clean energy advocates say it overlooks climate risks and mounting financial losses.

Charles Paullin reports for Inside Climate News.

Keep reading...Show less
A highway entering the Tongass National Forest with mountains and trees in the background.

Trump administration revives plan to open Alaska’s Tongass rainforest to logging

The Trump administration has announced plans to eliminate protections for roadless areas in national forests, including Alaska’s Tongass, potentially opening millions of acres of wilderness to logging and development.

Ted Williams reports for Yale Environment 360.

Keep reading...Show less
Street signs saying Wall St with a skyscraper in the background.
Credit: Lo Lo/Unsplash

Wall Street firms move to buy electric utilities as data centers drive energy demand

BlackRock and Blackstone are seeking to acquire utilities in Minnesota, New Mexico, and Texas to profit from the electricity needs of expanding data centers, raising concerns from consumer advocates about rate hikes and service reliability.

Ivan Penn reports for The New York Times.

Keep reading...Show less
Interior of an industrial plant with a dusty forklift.

Trump administration halts hydrogen furnace project in polluted Ohio steel town

A plan to replace a coal-fired furnace at an Ohio steel mill with cleaner hydrogen technology has stalled after the Trump administration withdrew key federal support.

Stephen Starr reports for The Guardian.

Keep reading...Show less
From our Newsroom
Multiple Houston-area oil and gas facilities that have violated pollution laws are seeking permit renewals

Multiple Houston-area oil and gas facilities that have violated pollution laws are seeking permit renewals

One facility has emitted cancer-causing chemicals into waterways at levels up to 520% higher than legal limits.

Regulators are underestimating health impacts from air pollution: Study

Regulators are underestimating health impacts from air pollution: Study

"The reality is, we are not exposed to one chemical at a time.”

Pennsylvania governor Josh Shapiro speaks with the state flag and American flag behind him.

Two years into his term, has Gov. Shapiro kept his promises to regulate Pennsylvania’s fracking industry?

A new report assesses the administration’s progress and makes new recommendations

silhouette of people holding hands by a lake at sunset

An open letter from EPA staff to the American public

“We cannot stand by and allow this to happen. We need to hold this administration accountable.”

wildfire retardants being sprayed by plane

New evidence links heavy metal pollution with wildfire retardants

“The chemical black box” that blankets wildfire-impacted areas is increasingly under scrutiny.

Stay informed: sign up for The Daily Climate newsletter
Top news on climate impacts, solutions, politics, drivers. Delivered to your inbox week days.