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GSR 2015

81 03 RENEWABLES 2015 GLOBAL STATUS REPORT investment was up over 21% to USD 14.8 billion in 2014. The Middle East and Africa region also experienced a significant increase in investment, from USD 8.7 billion in 2013 to USD 12.6 billion in 2014. The top 10 national investors consisted of four developing countries (all of which are BRICSi countries) and six developed countries. China was again in the lead, accounting for nearly one- third of global investment in renewable energy, followed by the United States, Japan, the United Kingdom, and Germany. The next five were Canada, Brazil, India, the Netherlands, and South Africa. The most significant increase in dollar terms occurred in China, with the total rising USD 20.7 billion relative to 2013. The Netherlands and Brazil saw the largest percentage increases, with investment up more than threefold to USD 7.4 billion in the Netherlands, and almost doubling to USD 7.6 billion in Brazil. China accounted for USD 83.3 billion (including R&D) of new investment in renewable energy, more than double the investment of its nearest country competitor, the United States. In utility-scaleii projects, wind power retained the sector lead, attracting USD 37.9 billion of asset finance, compared with USD 29.7 billion for solar power. Within the solar power sector, investment in small-scale solar PV rose again in 2014 to USD 7.6 billion, up from USD 1.2 billion in 2013. China was one of the few countries to see significant investment in small-scale hydropower, at USD 2.4 billion. The country also invested significant sums in large-scale hydropower, bringing a total of about 22 GW of new hydropower capacity into operation during the year, a large portion of which was projects >50 MW.iii  2 (p See Hydropower section.) The United States, which invested USD 38.3 billion (including R&D), continued to be the largest individual investor among the i - The five BRICS countries are Brazil, Russia, India, China, and South Africa. ii - “Utility-scale” in this section refers to wind farms, solar parks, and other renewable power installations of 1 MW or more in size, and to biofuel plants of more than 1 million litres’ capacity. iii - The Chinese government estimates that China invested USD 15.6 billion (CNY 96 billion) in hydropower during 2014, including hydropower facilities of all sizes, per China Electricity Council, "An Overview of China’s Power Industry in 2014" (Beijing: 10 March 2015), http://www.cec.org.cn/yaowenkuaidi/2015-03-10/134972.html (using Google Translate). This figure may include investment in pumped storage. Source: BNEF. Data include government and corporate R&D. Europe 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 23.6 46.7 66.4 81.6 81.2 111.1 120.7 89.6 57.3 57.5 China 3.0 8.2 11.1 16.6 25.7 39.5 38.7 62.8 49.1 62.6 83.3 80 60 40 20 7.2 9.2 10.0 12.5 13.6 13.7 19.3 24.1 30.5 48.7 44.7 60 40 20 Asia & Oceania (excl. China & India) 120 100 80 60 40 20 Billion USD Billion USD Billion USD 33.6 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 20142004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 China India Asia & Oceania (excl. China & India) Europe 20042005200620072008200920102011201220132014 20042005200620072008200920102011201220132014 2004200520062007200820092010201120122013201420042005200620072008200920102011201220132014

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