Quote of the Week - Global investment in coal and gas-fired power generation plants fell to less than half that in renewable energy generation last year

Global investment in coal and gas-fired power generation plants fell to less than half that in renewable energy generation last year, in a record year for clean energy.

It was the first time that renewable energy made up a majority of all the new electricity generation capacity under construction around the world, and the first year in which the financial investment by developing countries in renewables outstripped that of the developed world.

Catherine Mitchell, professor of energy policy at the University of Exeter, said the developments were “extremely significant” and showed a new trend.  She said: “We are looking at serious sums of money being invested in clean energy, with the dirtiest forms of fossil fuels the losers.  This is the direction of travel that we need to see to have a chance of escaping the worst impacts of climate change.”

Global coal and gas investment falls to less than half that in clean energy by Fiona Harvey, Guardian, Mar 24, 2016

Read original article at 2016 SkS Weekly Digest #13