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GSR 2015 - Investment by Economy

80 03 INVESTMENT FLOWS Overall investment in solar power was up 25% to USD 149.6 billion, while investment in wind power advanced 11% to a record USD 99.5 billion. Investment in geothermal power capacity also rose, by 23% to USD 2.7 billion. Other renewables did less well: biofuels saw an 8% decline to USD 5.1 billion (a 10-year low), biomass and waste-to-energy dropped 10% to USD 8.4 billion, and small-scale hydropower slipped 17% to USD 4.5 billion. New investment in renewable power capacity—USD 242.5 billion, excluding large-scale hydropower—was below the gross investment in fossil fuel capacity, at some USD 289 billion. However, it was far above the total for net investment in additional fossil fuel capacity, which came to USD 132 billion in 2014. Including investment in large-scale hydropower, global investment in renewable power capacity was more than twice the investment in net fossil fuel power capacity during 2014. ■■ INVESTMENT BY ECONOMY Developed and developing countries alike saw increases in renewable energy investments in 2014 relative to previous years. While developed countries noted a modest increase of 3%, to USD 138.9 billion, developing economies as a group (including China, Brazil, and India) saw an increase of 36%, to USD 131.3 billion. As a result, the share of global investment from developing countries increased by six percentage points to 49% in 2014, setting a new record. China accounted for 63% of developing country investment, up from 61% in 2013, and was responsible in large part for boosting the developing economies’ share of the world total. All regions of the world experienced an increase in renewable energy investment relative to 2013. (p See Figure 26.) China’s investment was up 39% on 2013, and India’s investment rose USD 1 billion to USD 7.4 billion. The rest of the Asia-Oceania region saw annual investment in renewable energy continue its uninterrupted rise to USD 48.7 billion (up almost 9%). Investment in Europe was up less than 1%, to USD 57.5 billion. The United States invested USD 38.3 billion, an increase of 7% compared to 2013 but still well below the all-time high reached in 2011. In the rest of the Americas (excluding Brazil and the United States), United States Americas (excl. United States & Brazil) Brazil 5.4 11.6 29.1 33.0 35.1 24.3 35.1 50.0 38.2 38.3 36.0 60 40 20 Billion USD Billion USD Billion USD20 1.7 3.3 3.9 5.0 5.8 5.8 9.2 10.2 12.2 14.8 20 0.8 3.1 5.2 11.8 12.1 7.9 7.7 10.1 7.2 3.9 7.6 India 2.7 3.1 4.9 6.3 5.6 4.3 9.0 12.7 7.4 7.4 6.4 20 Africa & Middle East 0.6 0.8 1.1 2.4 2.3 1.7 4.2 2.9 12.6 10.4 8.7 20 Figure 24. Global New Investment in Renewable Power and Fuels, by Region, 2004–2013 Billion USD Billion USD 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 20142004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 12.2 United States Americas (excl. United States & Brazil) Brazil Africa & Middle East Figure 26. Global New Investment in Renewable Power and Fuels, by Region, 2004–2014 2004200520062007200820092010201120122013201420042005200620072008200920102011201220132014 20042005200620072008200920102011201220132014 20042005200620072008200920102011201220132014 20042005200620072008200920102011201220132014

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