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REN21 10 Years Report

16 Including the unreported investments in hydropower projects larger than 50 MW, by the end of 2013 total new investment in renewable power and fuels was at least USD 249.4 billion. Total new installed renewable energy capacity in 2013 was 120 GW, the highest ever and a factor of four above 2004 levels. Since 2004, USD 1.6 trillion has been invested in the field of renewable energy. Commercial banks were just starting to enter the renewable energy sector in 2004, at a time when the majority of financiers and other investors considered most renewable technologies to be unproven and too risky. Today commercial banks are joined by pension funds, insurance companies, major corporations includ- ing several from outside the energy industry, and others looking for stable, long-term returns. Now that renewables are becoming economically competitive and investors are increasingly recognising their value, a key to further development will depend on the design of effective financing tools to overcome the initial investment cost. Several financial innovations have been developed since 2004. Recently, investment firms have introduced tools such as Sustainable Yield Bonds in the United States, Green Bonds in France and the United States, and the Renewable Financing Company Bonds in the United Kingdom. Further innovations, ranging from crowd funding to new ownership models, are making it possible for indi- viduals and communities to invest in renewable energy. United States Americas (excl. United States & Brazil) Brazil 5.5 11.7 28.2 33.6 35.9 23.5 34.7 53.4 39.7 35.8 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 60 40 20 Billion USD Billion USD Billion USD 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 20 1.4 3.3 3.2 4.9 5.8 6.1 11.5 8.7 9.9 12.4 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 20 0.6 2.6 4.6 11.0 12.2 7.8 7.7 9.7 6.8 3.1 Brazil Africa & Middle East 0.5 0.5 0.9 1.6 2.3 1.4 4.3 3.2 10.4 9.0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 20 Billion USD Figure 7: Investment by Region 2004200520062007200820092010201120122013 2004200520062007200820092010201120122013 2004200520062007200820092010201120122013 2004200520062007200820092010201120122013

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