This report is based on an article in Renewable Energy World, Vol 9 Issue 5, September/October 2006
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Eric Martinot, lead author of the REN21 "Renewables Global Status Report", presents the numbers on renewables investment in new generation capacity and new manufacturing infrastructure, along with an update on the latest pro-renewables policies worldwide.
Since publication of the REN21 Renewables 2005 Global Status Report in the autumn of 2005 (see Renewable Energy World November-December 2005), renewable energy investment and capacity growth have continued to accelerate, and support policies have continued to multiply. An estimated US$38 billion was invested in new renewable energy capacity worldwide during 2005, up from $30 billion in 2004. Almost all of this increase was due to increased investment in solar PV and wind power. Shares by technology of the 2005 annual investment were wind power (37%), solar PV (26%), solar hot water (11%), small hydro power (11%), biomass power and heat (7%), and geothermal power and heat (7%). An additional $15-20 billion was invested in large hydropower.
The countries with the largest shares of investment in capacity in 2005 were Germany, China, the United States, Spain and Japan. Investment in Germany and China increased from $6 billion each in 2004 to $7 billion each in 2005, mostly for wind and solar PV in Germany and for small hydro and solar hot water in China. The US was number three, with about $3.5 billion, followed by Spain and Japan, with more than $2 billion each. (These figures do not include large hydropower; investment in large hydropower in China was an additional $10 billion in 2005, with 7 GW new capacity installed. Thus counting large hydropower, China's investment was about $17 billion.)
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