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This represents a 5 to 6-fold increase since the s. Here we see that hydropower remains the dominant form of modern renewables consumption, accounting for almost 70 percent. But how much are we really investing in the sector, and how is this finance distributed across the world? In the graph below we see global investments in renewable technologies from to measured in billion USD per year. In , the world invested 47 billion USD. By , this had increased to billion USD, an increase of more than percent.

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Investment has grown across all regions, but at significantly different rates. China is now the largest single investor in renewable technologies, investing approximately the same as the United States, Europe and India combined. We might expect that the largest economies would also be the largest investors. This tells a slightly different story. Most countries invest less than one percent of GDP in renewable technologies with the exception of South Africa and Chile, which make an impressive contribution at 1.

When normalised to GDP, China remains one of the largest investors, at 0. Interestingly, despite being the second largest investor in absolute terms, the United States invested only 0. Indeed, when it comes to relative contributors to renewable energy, low-to-middle income transitioning economies typically invest more than high-income nations. This may be partly explained by the fact that these nations are likely to be investing a higher percentage of their GDP into energy provision and expansion overall whereas high-income nations typically have well-established energy systems.

We have looked at investment trends by region, but which renewable technologies are receiving the largest investment?


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In the chart below we have shown global investment trends by energy source, through to Note that large hydropower is not included in these figures. In , solar and wind energy both received 47 percent of investment combining to account for 94 percent of global finance.


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  • These two technologies have been taking an increasing share, especially over the last five years. In , bioenergy both in the form of biomass and liquid biofuels took a sizable share of global investment, peaking at 36 percent.

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    This has dwindled over the last decade, receiving less than four percent in The charts below show the number of global patents filed not granted for renewable energy technologies. These are differentiated by technology type e. Note that figures for may be subject to a time lag; processing times of patent applications vary and some patents submitted over this period may not yet be recorded in statistics. These figures will be updated with time if additional patent applications are recorded.

    The chart below shows the share of final energy consumption which is inclusive of electricity, transport, heating and cooking derived from renewables plotted against income GDP per capita, adjusted for cross-country price differences. These two technologies have been taking an increasing share, especially over the last five years.

    In , bioenergy both in the form of biomass and liquid biofuels took a sizable share of global investment, peaking at 36 percent. This has dwindled over the last decade, receiving less than four percent in The charts below show the number of global patents filed not granted for renewable energy technologies. These are differentiated by technology type e.

    Note that figures for may be subject to a time lag; processing times of patent applications vary and some patents submitted over this period may not yet be recorded in statistics. These figures will be updated with time if additional patent applications are recorded.

    The chart below shows the share of final energy consumption which is inclusive of electricity, transport, heating and cooking derived from renewables plotted against income GDP per capita, adjusted for cross-country price differences. Here we see that at very low incomes, the majority of final energy is derived from renewables — this is predominantly in the form of traditional biomass for cooking and heating.

    Continued economic development through low-to-middle and into higher incomes has historically been achieved for most countries through industrialisation, and as a result a dominance of fossil fuels within the energy mix.

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    This is shown by the continued decline in renewables as a share of final energy. As countries approach upper middle to high-incomes, we tend to see a trough in this trend as investment in renewables increases and the share begins to rise again.

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    This progress is much more noticeable for some countries than others: Denmark, Austria and Sweden, for example, show this bottom plateau then rising trend clearly. Others, such as Canada, the United States and Australia show much flatter trends. The cost of solar PV has fallen substantially in recent decades, as shown in the chart below.


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    • Here we see the cost of solar PV modules in dollars per watt-peak of energy output 2 versus the global cumulative capacity of solar PV. This trend is used for calculation of a learning rate; this provides an indication of the level of cost reduction as manufacturers and producers accumulate experience through technology deployment. The price of solar PV modules has fallen more than fold since On average, the technology has had a learning rate of 22 percent; this means that the cost falls by 22 percent for every doubling in solar PV capacity although progress has not necessarily been constant over this period.

      To maintain consistency between metrics and sources, we have attempted to normalise all energy data to units of watt-hours Wh , or one of its SI prefixes.

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      The table below shows the conversion of watt-hours to the range of SI prefixes used. Empirical View Global renewable energy consumption over the long-run The visualisation below shows the global production of renewable energy over the long-term. Click to open interactive version. Wordpress Edit Page. Our World in Data is free and accessible for everyone.

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