UN: Solar Leads $2.5 Trillion Global Investment in Green Energy
CN) – As global superpowers grapple with ditching fossil fuels many nations have flipped the switch on solar power and other renewable forms of energy in the last decade, with investments into those technologies expected to top $2.6 trillion by 2020.
In the last decade, solar power accounted for half of the money invested into renewable energy, according to a United Nations-backed report on global trends released Thursday.
Solar power has come a long way since U.S. President Jimmy Carter installed the first panels on the White House in 1979, only to have them removed a few years later by his successor Ronald Reagan. This episode foretold the uphill battle to replace fossil fuels but not that some 40 years later, a news network would devote seven hours to a series of town halls with presidential candidates discussing their plans to tackle climate change.
The future for renewable energy has grown brighter over the last decade as investments quadrupled. Global energy generated grew from 414 gigawatts to about 1,650 gigawatts, according to the report set to be released ahead of the U.N. Global Climate Action Summit.