Finally Some Good News About Clean Energy Investment

China continues to lead the world in green investment.

Workers check the solar panels on the roof of a textile factory in Tongxiang, in China's Zhejiang province. China leads the world in clean energy investment.Shen Zc/Featurechina/Ropi/ZUMA

Let our journalists help you make sense of the noise: Subscribe to the Mother Jones Daily newsletter and get a recap of news that matters.


Clean energy investment around the world is rebounding after a three-year decline, according to new figures released today by Bloomberg New Energy Finance. Globally, the total amount of clean energy investment jumped 16 percent in 2014, to $310 billion. That number is just shy of the record amount of investment set in 2011.

BNEF produces quarterly reports that track how much money governments and the private sector are pouring into wind, solar, biofuels and other green energy projects. In 2014, the United States enjoyed its biggest investments since 2012, but it was China that once again drove the numbers. China’s clean energy spending shot up 32 percent to a record $89.5 billion, cementing its place as the world’s top market for green investment. (You can get a sense of just how impressive Chinese investment is by peaking inside the the world’s biggest solar manufacturing factory, which is run by Chinese company Yingli.)

Solar is getting the lion’s share of investment around the world, according to the figures. Almost half the money spent on clean energy this year—just shy of $150 billion—was in the solar industry. Wind investment also reached record levels—$19.4 billion globally—thanks in part to offshore projects in Europe.

There was one darker patch in the numbers: Australia, where the government is trying to slash the country’s Renewable Energy Target, a policy that creates mandates for the amount of clean energy in the electricity mix. Bucking the global trend, investments there fell by 35 percent.

More Mother Jones reporting on Climate Desk

IT'S NOT THAT WE'RE SCREWED WITHOUT TRUMP:

"It's that we're screwed with or without him if we can't show the public that what we do matters for the long term," writes Mother Jones CEO Monika Bauerlein as she kicks off our drive to raise $350,000 in donations from readers by July 17.

This is a big one for us. It's our first time asking for an outpouring of support since screams of FAKE NEWS and so much of what Trump stood for made everything we do so visceral. Like most newsrooms, we face incredibly hard budget realities, and it's unnerving needing to raise big money when traffic is down.

So, as we ask you to consider supporting our team's journalism, we thought we'd slow down and check in about where Mother Jones is and where we're going after the chaotic last several years. This comparatively slow moment is also an urgent one for Mother Jones: You can read more in "Slow News Is Good News," and if you're able to, please support our team's hard-hitting journalism and help us reach our big $350,000 goal with a donation today.

payment methods

IT'S NOT THAT WE'RE SCREWED WITHOUT TRUMP:

"It's that we're screwed with or without him if we can't show the public that what we do matters for the long term," writes Mother Jones CEO Monika Bauerlein as she kicks off our drive to raise $350,000 in donations from readers by July 17.

This is a big one for us. So, as we ask you to consider supporting our team's journalism, we thought we'd slow down and check in about where Mother Jones is and where we're going after the chaotic last several years. This comparatively slow moment is also an urgent one for Mother Jones: You can read more in "Slow News Is Good News," and if you're able to, please support our team's hard-hitting journalism and help us reach our big $350,000 goal with a donation today.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate