Acknowledgements
Note: Some individuals have contributed in more than one way to this report. To avoid listing contributors multiple times, they have been added to the group where they provided the most information. In most cases, the lead country, regional and topical contributors also participated in the Global Status Report (GSR) review and validation process.
REN21 RESEARCH DIRECTION TEAM
Hannah E. Murdock
Duncan Gibb
Thomas André
SPECIAL ADVISORS
Janet L. Sawin (Sunna Research)
Adam Brown
CHAPTER AUTHORS
Thomas André (REN21)
Fabiani Appavou
Adam Brown
Geraint Ellis (Queen’s University Belfast)
Bärbel Epp (Solrico)
Duncan Gibb (REN21)
Flávia Guerra
Fanny Joubert (EcoTraders)
Ron Kamara (EcoTraders)
Bozhil Kondev
Rachele Levin
Hannah E. Murdock (REN21)
Janet L. Sawin (Sunna Research)
Kristin Seyboth (KMS Research and Consulting LLC)
Jonathan Skeen (The SOLA Group)
Freyr Sverrisson (Sunna Research)
Glen Wright (Institute for Sustainable Development
and International Relations)
RESEARCH AND PROJECT SUPPORT (REN21 SECRETARIAT)
Fiona Corcoran, Hend Yaqoob, Dalia Assoum,
Stephanie Gicquel, Vibhushree Hamirwasia,
Lea Ranalder, Katharina Satzinger
COMMUNICATIONs SUPPORT (REN21 SECRETARIAT)
Laura E. Williamson, Katherine Findlay,
Anna Swenson, Florencia Urbani
Sabine Froning, Niels Reise (Communication Works)
EDITING, DESIGN AND LAYOUT
Lisa Mastny, Editor
weeks.de Werbeagentur GmbH, Design
PRODUCTION
REN21 Secretariat, Paris, France
SIDEBAR AUTHORS
Harold Anuta
(International Renewable Energy Agency – IRENA)
William Brent (Power for All)
Christopher Dent (Edge Hill University)
Rabia Ferroukhi (IRENA)
Celia Garcia (IRENA)
Arslan Khalid (IRENA)
Pablo Ralon (IRENA)
Michael Renner (IRENA)
Michael Taylor (IRENA)
Glen Wright (Institute for Sustainable Development and International Relations)
REGIONAL CONTRIBUTORS
Central and East Africa
Allan Chege, Mark Hankins, Allan Kinuthia, Farhiya Tifow, Dorcas Wairimu (African Solar Designs); Fabrice Fouodji Toche (Vista Organisation for Education and Social Development in Africa)
Latin America and Caribbean
Aliosha Nicolás Behnisch, Gonzalo Bravo, Lucas Furlano, Ignacio Sagardoy (Fundación Bariloche); Peter Krenz (GIZ); Douglas Murphy (Inter-American Development Bank – IDB); Rodrigo Valdovinos (El Centro de Formación Técnica del Medio Ambiente – IDMA)
Middle East and North Africa
Tarek Abdul Razek, Akram Almohamadi, Ehab Nayef Al Amleh, Kholoud Moustafa Bakry (Regional Center for Renewable Energy and Energy Efficiency – RCREEE)
Southern Africa
Joseph Ngwawi (Southern African Research and Documentation Centre)
LEAD COUNTRY CONTRIBUTORS
Algeria
Noureddine Yassaa (Commissariat for Renewable Energy and Energy Efficiency)
Australia
Veryan Hann (University of Tasmania); Charlotte Rouse (Australian Renewable Energy Agency); Amanda Scribante (Norton Rose Fulbright); Australian Photovoltaic Institute (APVI)
Brazil
Ricardo Lacerda Baitelo, Stephanie Fonseca Betz, Rodrigo Sauaia (Associação Brasileira de Energia Solar Fotovoltaica – ABSOLAR); Thiago Barral Ferreira (Energy Research Office); Marcela Vincoletto Rezende (Brazilian Biogas Association)
China
João Graça Gomes, Xu Huijin, Yang Qiang (China-UK Low Carbon College, Shanghai Jiao Tong University); Frank Haugwitz (Asia Europe Clean Energy (Solar) Advisory Co. Ltd. – AECEA); Haiyan Qin, Guiyong Yu, Hui Yu (Chinese Wind Energy Association – CWEA)
Chinese Taipei
Gloria Kuang-Jung Hsu (National Taiwan University)
Colombia
Yuri Ulianov Lopez
Denmark
Jakob Jensen (Heliac)
France
Romain Zissler (Renewable Energy Institute)
Germany
Sebastian Hermann (German Environment Agency); Sigrid Kusch-Brandt (University of Padua)
Greece
Ioannis Tsipouridis (RED Pro Consultants)
Honduras
Lesvi Mariela Montoya, Tannia Vindel (Dirección Nacional de Planeamiento Energético y Política Energética Sectorial)
Hungary
Csaba Vaszko (Greenstreams)
India
Pallav Purohit (International Institute for Applied Systems Analysis – IIASA); Yogesh Kumar Singh (National Institute of Solar Energy)
Indonesia
Chayun Budiono (PT Gerbang Multindo Nusantara)
Iran
Mohammadhosein Seyyedan (SAMANIR)
Japan
Hironao Matsubara (Institute for Sustainable Energy Policies); Naoko Matsumoto (Ferris University Japan)
Jordan
Samer Zawaydeh (Association of Energy Engineers)
Kazakhstan
Timur Shalabayev (Solar Power Association of Qazaqstan)
Kenya
Eromosele Omomhenle (Microsoft Corporation)
Korea, Republic of
Seong Ho Lee (Korea Institute of Energy Technology Evaluation and Planning); Nikola Medimorec (SLOCAT Partnership for Sustainable, Low Carbon Transport)
Libya
Mariam El Forgani (General Electric Company of Libya)
Mexico
Gabriela Hernández-Luna (Engineering and Applied Science Center Research (CIICAp) of Autonomous University of Morelos State – UAEM); Philip Russell (Mexico Energy News)
Mongolia
Myagmardorj Enkhmend (Mongolian Renewables Industries Association)
Nepal
Kushal Gurung (WindPower Nepal)
Nigeria
Adedoyin Adeleke (International Support Network for African Development); Norbert Edomah (Pan-Atlantic University); Anayo Ezeamama (Brandenburg University of Technology, Cottbus-Senftenberg, Germany); Austine Sadiq Okoh (Global Environment Services and Weather Solutions); Abdulhameed Babatunde Owolabi (Institute for Global Climate Change and Energy, Department of Climate Change, Kyungpook National University, Republic of Korea)
Portugal
Madalena Lacerda, Susana Serôdio (Portuguese Renewable Energy Association – APREN)
Russian Federation
Georgy Ermolenko (Institute for Energy of National Research University Higher School of Economics)
Spain
Gonzalo Martín (Protermosolar); Silvia Vera (Institute for Diversification and Saving of Energy – IDAE); Unión Española Fotovoltaica (UNEF)
Suriname
Jordi Abadal (IDB)
Turkey
Yael Taranto (SHURA Energy Transition Center); Tanay Sıdı Vyar (Marmara University)
Ukraine
Andriy Konechenkov (Ukranian Wind Energy Association); Galyna Trypolska (Institute for Economics and Forecasting, National Academy of Sciences of Ukraine)
Uruguay
Uruguay Ministry of Industry, Energy and Mining – MIEM; Federico Sanz (Universidad Tecnológica); Wilson Sierra (MIEM)
Uzbekistan
Nizomiddin Rakhmanov (Tashkent State Technical University)
Vietnam
Dang Anh Thi Nguyen (Consultant)
LEAD TOPICAL CONTRIBUTORS
Bioenergy
Cristina Calderon, Martin Colla (Bioenergy Europe)
Buildings
Matthew Black, Catriona Brady (World Green Building Council); Christina Hageneder (GIZ); Ursula Hartenberger (Royal Institute of Chartered Surveyors); Maxine Jordan (International Energy Agency – IEA); Edward Mazria (Architecture 2030); Régis Meyer (Ministère de la Transition Ecologique et Solidaire); Oliver Rapf (Buildings Performance Institute of Europe – BPIE); Nora Steurer (Global Alliance for Buildings and Construction, United Nations Environment Programme – UNEP)
Distributed Renewables for Energy Access
Advisor: Divyam Nagpal; Shrikant Avi, Asna Towfiq (Clean Cooking Alliance); Juliette Besnard (Energy Sector Management Assistance Program – ESMAP); William Brent (Power for All); Kelly Brinkler; Ute Collier (Practical Action); Nazik Elhassan, Adrian Whiteman (IRENA); Silvia Francioso (GOGLA); Peter George (Clean Cooking Alliance); Jens Jaeger, David Lecoque (ARE); Takehiro Kawahara (BloombergNEF); Daniel Kitwa (Africa Mini-grid Developers Association – AMDA); Wim Jonker Klunne (Consultant); Bonsuk Koo (ESMAP); Benjamin Lasne-Laverne, Baptiste Posseme (Infinergia Consulting); Marcos Paya (Dalberg Advisors); Ruchi Soni (Sustainable Energy for All); Yann Tanvez (International Finance Corporation)
Energy Efficiency
Advisor: Freyr Sverrisson (Sunna Research); Dusan Jakovljevic (Energy Efficiency in Industrial Processes); Rod Janssen (Energy in Demand); Benoît Lebot (Ministère de la Transition Ecologique et Solidaire)
Energy Storage
Andy Bradley (Delta Energy and Environment)
Energy Systems Integration
Julien Armijo (IEA); Virginia Echinope (Uruguay MIEM); Thierry Lepercq (Soladvent); Luke Middleton (Hydro Tasmania); Simon Mueller (Enertrag); Cédric Philibert (Consultant)
Geothermal Power and Heat
Marit Brommer; Margaret Krieger (International Geothermal Association)
Global Overview
Data Advisor: Duncan Millard; Rana Adib (REN21); Zuzana Dobrotkova (World Bank); Bruce Douglas (Eurelectric); Rana Ghoneim (United Nations Industrial Development Organization – UNIDO); Flávia Guerra; Guillaume Joly (Région Île-de-France); Tomas Kåberger (Renewable Energy Institute); Ruud Kempener (European Commission, Renewable Energy Policy Unit); Hugo Lucas (Spanish Ministry for Ecological Transition and Demographic Challenge); Tanguy Tomes; Arthouros Zervos (National Technical University of Athens)
Heat Pumps
Thomas Nowak (European Heat Pump Association); Cooper Zhao (China Heat Pump Association)
Heating and Cooling
François Briens (IEA); Valérie Laplagne (Uniclima); Richard Lowes (University of Exeter); Peter Lundberg (Asia Pacific Urban Energy Association); Lindsay Sugden (Delta Energy and Environment); Paul Voss (Euroheat & Power); Werner Weiss (AEE Institute for Sustainable Technologies – AEE INTEC)
Hydropower
Cristina Diez Santos (International Hydropower Association)
Investment
Françoise d’Estais (UNEP); Malin Emmerich, Christine Gruening (Frankfurt School of Finance and Management); Rob Macquarie (Climate Policy Initiative); Angus McCrone (BloombergNEF)
Ocean Energy
Advisor: Freyr Sverrisson (Sunna Research)
Policy
Advisor: Evan Musolino; Rachel Anderson, Valerie Bennett (Ontario Energy Board); Diala Hawila (IRENA); Nurzat Myrsalieva (UNIDO)
Public Support
Zoé Chateau (University of Exeter); Nick Johnston, Robert Wade (Queen’s University Belfast); Dorina Luga (WindEurope); Cristian Pons-seres de Brauwer (Danish Technical University); Alida Volkmer (University College Cork)
Solar Photovoltaics
Alice Detollenaere (Becquerel Institute); Denis Lenardič (pvresources); Gaëtan Masson (Becquerel Institute; IEA Photovoltaic Power Systems Programme); Paula Mints (SPV Market Research); Dave Renné (International Solar Energy Society); Michael Schmela (SolarPower Europe)
Solar Thermal Heating and Cooling
Hongzhi Cheng (Sun’s Vision); Pedro Dias (Solar Heat Europe); Monika Spörk-Dür (AEE INTEC); He Tao, Ruicheng Zheng (China Academy of Building Research)
Transport
Geert Decock (European Federation for Transport and Environment); Marine Gorner, Pierre Leduc, Leonardo Paoli, Jacob Teter (IEA); Cornie Huizenga (Climate and Environment Services Group – CESG); Nikola Medimorec, Karl Peet (SLOCAT); Patrick Oliva (Paris Process on Mobility and Climate); Zifei Yang (International Council on Clean Transportation – ICCT)
Wind Power
Feng Zhao (Global Wind Energy Council – GWEC); American Wind Energy Association; Stefan Gsänger, Jean-Daniel Pitteloud (World Wind Energy Association – WWEA); Ivan Komusanac (WindEurope)
PEER REVIEWERS AND OTHER CONTRIBUTORS
Emma Aberg (IRENA); Abdullah Abou Ali (IRENA); Diego Acevedo (Eneda Engineering VBA); Abdenour Achour (Chalmers University of Technology); Gavin Allwright (International Windship Association); Mohammad Alnajideen (Cardiff School of Engineering, Cardiff University); Angelica Venancio Apilado (Asian Development Bank – ADB);
Abdelkader Baccouche (Tunisia National Agency for Energy Management – ANME); Miriam Badino; Sarah Baird (Let There Be Light International); Jake Bartell (Strategen Consulting); Emanuele Bianco (IRENA); Rakesh Bohra (Infosys Limited); Emilio Soberón Bravo (Mexico Low Emission Development Program (MLED-II) of the US Agency for International Development);
Luis Carlos (Geoconsul, SA de CV); Sergio Castellanos (University of California at Berkeley); Sandra Chavez (World Bank); Jordi Abadal Colomina (IDB); Jack Corscadden (Euroheat & Power); Edgar Cruz (Climate Finance Solutions); Ruud Cuypers (TNO);
Mark Diesendorf (Institute of Environmental Studies, University of New South Wales); Abdelnaser Dwaikat (Association of Energy Engineers, State of Palestine);
Tobias Engelmeier (TFE Consulting GmbH); Ashkan Etemad (LEEDinIran);
Pablo Ferragut (ARPEL); David Ferrari (Sustainable Victoria); Lara Ferreira (APREN); Panagiotis Fragkos (E3Modelling); Sabine Froning (Communication Works);
Daniel Garcia (Famerac); Tony Gebrayel (Lebanese Center for Energy Conservation); Marine Gorner (IEA); Dean Granoff; Carlos Guadarrama (IRENA); Jonathan Guerrero (Independent Researcher); Ken Guthrie (Sustainable Energy Transformation);
Daniel S. Helman (College of Micronesia FSM); John Hensley (AWEA); Sebastian Hermann (Germany Environment Agency); Martin Hiller (Millwater Partners); Rainer Hinrichs-Rahlwes (European Renewable Energy Federation);
Tom Fred Ishugah (East African Centre for Renewable Energy and Energy Efficiency);
Arnulf Jaeger-Waldau (European Commission, Joint Research Centre); Jakob Jensen (Heliac); Danielle Johann (ABRASOL);
Panayiotis Kastanias (Cyprus Employers and Industrialists Federation); Shorai Kavu (Ministry of Energy and Power Development, Zimbabwe); Nazar Khan (Jamia Millia Islamia); Birol Kilkis (World Alliance for Decentralized Energy); Karin Kritizinger (Stellenbosch University); Amit Kumar (The Energy and Resources Institute);
Nilto Labah-Niemeyer (Deloitte Consulting); Mercè Labordena (SolarPower Europe); Maryse Labriet (ENERIS); Alexandra Langenheld (Agora Energiewende); Eva Lee (Power for All); Andrea Liesen (BSW Solar); Melisande F. Liu (Civic Foundation UNISON); Joshua Loughman (Arizona State University); Detlef Loy (Loy Energy Consulting);
Romain Mauger (University of Groningen); Jaideep Malaviya (Solar Thermal Federation of India); Sabatha Mthwecu (Solar Rais); Julia Muench (Fachverband Biogas e.V.); Sumoni Mukherjee; Rachel Muncrief (ICCT); Federico Musazzi (Anima);
Kee-Yung Nam (ADB); Les Nelson (International Association of Plumbing and Mechanical Officials); Daya Ram Nhuchhen (University of Calgary); Eduardo Noboa (World Future Council); Laura Noriega (ICLEI); Irene di Padua (Solar Heat Europe);
Eitan Parnass (Green Energy Association of Israel); Nahasi Pascal; Pascual Polo (Asociación Solar de la Industria Térmica); Ramesh Poluru (The INCLEN Trust International); Edwige Porcheyre (Enerplan); Luka Powanga (Regis University/Energy Africa Conference); Pallav Purohit (IIASA);
Liming Qiao (GWEC);
Robert Rapier (ZHRO, LLC); Atul Raturi (University of the South Pacific School of Engineering and Physics, Faculty of Science, Technology and Environment); Olivier Renvoisé (Engie Digital); Carlos Reviero (ComAp); Clare G. Richardson-Barlow (University of Leeds); Andres Rios (Renewable Energy Expert); Ahmed Rontas (DOLUS); Heather Rosmarin (InterAmerican Clean Energy Institute);
Felipe Sabadini (RWTH Aachen University); David Mensah Sackey (Green Communities International); Kumiko Saito (Solar System Development Association); Amit Saraogi (Oorja: Empowering Rural Communities); Miguel Schloss (Surinvest Ltd.); Beatrix Schmuelling (Ministry of Climate Change and Environment, United Arab Emirates); Gal Shofrony (Israeli Electricity Authority); Eli Shilton (Elsol); Wilson Sierra (MIEM); Nilmini Silva-Send (Energy Policy Initiatives Centre); Manoj Kumar Singh (Idam Infrastructure Advisory Services); Laiz Souto (University of Girona); Janusz Staroscik (Association of Manufacturers and Importers of Heating Appliances – SPIUG); David Stickelberger (Swissolar); Geoff Stiles (Carbon Impact Consultants); Costanza Strinati (IRENA);
Yael Taranto (SHURA Energy Transition Center); Ian Thomson (Advanced Biofuels Canada); Charity Lao Torregosa (ADB); Costas Travasaros (Greek Solar Industry Association – EBHE); Daniel Trier (Enerplan);
Andreas Ulbig (Adaptricity); Kutay Ülke (Bural);
Celeste Wanner (AWEA); Laura Waterford (Norton Rose Fulbright); Sheila Watson (FIA Foundation);
Harish Yadav (Awake); Peter Jianhua Yang (Case Western Reserve University); Abdulmutalib Yussuff (University of Edinburgh);
Monica Zamora Zapata (University of California, San Diego); Vladislav Zavadskiy (Almaty University of Power Engineering and Telecommunications); Yongping Zhai (ADB); Shuwei Zhang (Draworld Environment Research Center)

This report was commissioned by REN21 and produced in collaboration with a global network of research partners. Financing was provided by the German Federal Ministry for Economic Cooperation and Development (BMZ), the German Federal Ministry for Economic Affairs and Energy (BMWi) and the UN Environment Programme. A large share of the research for this report was conducted on a voluntary basis.
Global Trends in Renewable Energy Investment (GTR) is an annual report jointly prepared by the Frankfurt School-UNEP Collaborating Centre for Climate & Sustainable Energy Finance, BloombergNEF and the UN Environment Programme (UNEP). Global Trends in Renewable Energy Investment grew out of efforts to track and publish comprehensive information about international investments in renewable energy. The 2020 edition of the GTR explores the most recent developments, signs and signals in the financing of renewable power and fuels. Information is presented by type of investment, technology and economy. It also provides an outlook on financing trends for the next decade.
Together with REN21’s annual Renewables Global Status Report (GSR), these two publications provide a comprehensive overview of developments in the renewable energy sector. The 2020 GTR edition was supported by the German Federal Ministry of Environment, Nature Conservation and Nuclear Safety. It was released in May 2020 and can be downloaded at www.fs-unep-centre.org.
