China leads in green power

CHINA helped push global green energy investment plans to record highs in 2015, offsetting a sharp fall in Germany (德國), according to the authors of a UN-backed report who predict further growth.

Solar and wind power, especially in developing countries, are driving spending higher and last year for the first time renewables made up more than 50 percent of new electricity capacity plans, the Frankfurt School of Finance and Management (法蘭克福金融管理學院) report said.

“The term ‘niche product’ no longer applies to renewables,” said Ulf Moslener, professor for sustainable energy finance at the school and one of the report’s authors.

“Investments are becoming less expensive, due to falling equipment costs, which will also enable further growth, especially in light of the new momentum from the Paris () climate summit goals.”

Firmly committed renewable investment plans totalled US$286 billion (HK$2.23 trillion) last year, up 5 percent from US$273 billion in 2014, according to the study, which is prepared annually by the Frankfurt School-United Nations Environment Programme (UNEP) Collaborating Centre (法蘭克福大學-聯合國環境規劃署氣候和可持續能源金融合作中心) and Bloomberg New Energy Finance (彭博新能源財經).

Solar power accounted for US$148 billion, up 12 percent partly driven by an ongoing solar boom in Japan.

Wind accounted for US$107 billion, up 9 percent helped by offshore projects.

China accounted for US$103 billion of the total, up 17 percent, ahead of Europe () with US$49 billion, the United States with US$44.1 billion and Asia (), excluding China and India (), at US$48 billion.


Global trends in renewable energy investment 2016


China to boost uptake of renewable energy for green growth