Global Trends in Renewable Energy Investment 2019 (APPA Renovables)

Summary

• Global investment in renewable energy capacity was $272.9 billion in 2018, down 12% on the previous year, the fifth successive year in which the total exceeded $250 billion.p.20
• The years 2010-2019 will have seen $2.6 trillion invested in renewable energy capacity (excluding large hydro), with solar at $1.3 trillion, wind at $1 trillion and biomass and waste-to-energy at $115 billion.p.11
• China committed $758 billion between 2010 and the first half of 2019, with the U.S. second on $356 billion and Japan third on $202 billion.p.11
• Solar attracted $133.5 billion in 2018, down 22%, while wind secured $129.7 billion, up 3%.p.20
• China invested $88.5 billion in 2018, down 38%, Europe $59.9 billion, up 45%, and the U.S. $42.8 billion, down 6%.p.20
• The levelized cost of solar PV fell 81%, from $304 per MWh to $57 per MWh, while onshore wind fell 46% and offshore wind 44%.p.15
• Renewables excluding large hydro increased their share of world electricity generation from 11.6% in 2017 to 12.9% in 2018.p.20

Key insights

1. 29 countries each invested more than $1 billion in 2018, up from 25 in 2017 and 21 in 2016.p.11
2. Wind and solar accounted for only 4% of global generating capacity in January 2010 and are expected to account for some 18% by the end of the decade.p.12
3. In 2009 the world invested a record $147 billion in new renewable energy capacity (excluding large hydro).p.13
4. China accounted for nearly 31% of the global total of investment from 2010 to the first half of 2019.p.14
5. Germany contributed $179 billion and the U.K. $122 billion of Europe's investment over the decade.p.14
6. A record 167GW of renewable power capacity started production in 2018, up from 160GW in 2017.p.20
7. Utility-scale asset finance was $236.1 billion in 2018, while small-scale solar financing was $36.8 billion.p.21
8. Coal is set to have 529GW added over the decade despite concerns about climate change.p.17