\n826 GW<\/strong> of new non-hydro renewable energy capacity would need to be built between now and 2030.10<\/strong>
\n
![\"\"](\"https:\/\/www.enerjigazetesi.ist\/wp-content\/uploads\/2020\/09\/yenilenebilir-enerji-yatirimlarinda-kuresel-egilimler-2020-raporu-ozeti.jpg\")
The actual investment involved in building these gigawatts would depend on the mix of renewable energy technologies<\/strong> chosen (for example, offshore wind has a much higher average capital cost per\nmegawatt than solar photovoltaics), on where the new capacity<\/strong> is located, and also on how the costs of
\nthose technologies evolve during the 2020s. At 2019<\/strong> global benchmark capital costs per
\nmegawatt, 826GW<\/strong> of new capacity might have an upfront capital cost of some $900 billion<\/strong> \u2013 if the technology split was 75:25<\/strong> between utility-scale PV<\/strong> and onshore wind<\/strong>. Or $1.1 trillion<\/strong> if it was
\n70:20:10 between utility-scale PV, onshore wind and offshore wind.11<\/p>\n
Electricity<\/strong> is a vital part of the overall energy system, and for that system\u2019s CO2 emissions<\/strong>, but it is far from the only part. In 2016, it was responsible for 42%<\/strong> of global energy-related emissions, with transport contributing 24%<\/strong> and buildings and industry a further 32%.<\/strong><\/p>\n In the boxes below, we look at two areas<\/strong> that, like electricity<\/strong>, are becoming subject to specific The world invested $282.2 billion in new renewable energy capacity (excluding large hydro) in 2019. This was a mere 1% higher than the total for the previous year, and it was 10% below the record figure of $315.1 billion set in 2017. However, the amount of new renewable power added in 2019 was the highest ever, at 184 gigawatts, a full 20GW more than in 2018. Steep falls in capital costs have meant that more capacity in wind and solar can now be added than ever before, for the same number of dollars.<\/p>\n Investment trends in renewables in 2019 varied sharply between sectors and regions. Wind Global investment in new renewable energy capacity<\/strong> (excluding large hydro-electric projects) Asset finance of utility-scale projects fell 5%<\/strong> to $230.1 billion<\/strong>, the lowest figure for any year since If you include research and development and the funding of specialized companies, as well as the
\ngovernment targets<\/strong>, and are attracting rising<\/strong> interest among companies<\/strong> and investors<\/strong>. One is transport, and the other is heat<\/strong>.<\/p>\nRENEWABLE CAPACITY GROWTH IN 2019<\/h2>\n
\nattracted a record $138.2 billion, up 6%, helped by a boom in offshore project financings. Solar
\nsaw a 3% fall to $131.1 billion, while biomass and waste grew 9% to $9.7 billion.<\/p>\nCAPACITY INVESTMENT \u2013 GLOBAL<\/h2>\n
\nwas $282.2 billion<\/strong> in 2019, up 1%<\/strong> on the previous year, thanks to a jump in spending<\/strong> on
\nsmall-scale solar systems.<\/strong><\/p>\n
\n2014. This was despite a late rush in offshore wind financings in the final quarter of the year. Investment in small-scale solar projects of less than 1MW leapt 37%<\/strong> to $52.1 billion<\/strong>, helped by the
\nincreasing cost-effectiveness of electricity from commercial and residential systems in key markets
\nsuch as the U.S., China, Brazil, the Netherlands and Germany<\/strong><\/p>\nTOTAL RENEWABLE ENERGY INVESTMENT<\/h2>\n
\nfinancing of generation capacity, then the resulting figure for total renewable energy investment was
\n$301.7 billion<\/strong> in 2019<\/strong>. This was 2%<\/strong> up on the 2018<\/strong> total, and the third highest on record \u2013 after 2015<\/strong> and 2017<\/strong>. Over the decade 2010-2019<\/strong>, total renewable energy investment<\/strong> was $2.8 trillion<\/strong>, or an average of $284 billion<\/strong> per year.<\/p>\n