Clean energy investment rose 1% last year to $282bn, Reuters reports, based on research from Bloomberg New Energy Finance (BNEF) and the UN Environment Programme.
Within the global total, China’s spending fell to the lowest level since 2013, at $83bn, while US investment rose 28% year-on-year to $56bn.
While investment in 2019 increased by 1%, the new capacity bought for the money rose by 12% as renewable costs continued to decline.
The research’s forward-looking analysis finds that governments and countries around the world have already committed to building another 826 gigawatts (GW) of new renewable energy capacity by 2030, excluding hydro.
The likely cost of these existing commitments for the 2020s is around $1tn, which is 63% lower than the total spent during 2010-2019.