UK invested $23.4m in renewables in 2015

The UK invested $23.4 billion (£16bn) in renewables in 2015. That’s a 24% growth which makes the country the “strongest” market for green projects, according to a new report by […]

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By Jacqueline Echevarria

The UK invested $23.4 billion (£16bn) in renewables in 2015.

That’s a 24% growth which makes the country the “strongest” market for green projects, according to a new report by Bloomberg New Energy Finance.

Around $15 billion (£10.3bn) was invested in wind projects and $4.9 billion (£3.3bn) in solar, it added.

The report also stated an investment worth $329 billion (£227bn) was made globally in green projects during the same period.

The amount of renewables installed also peaked with 64GW of wind and 57GW of solar.

China was the largest investor in clean energy with $110.5 billion (£76.2bn) followed by the US which funded $56 billion (£38.6bn) in green projects.

India and Japan increased their investments in renewables to $10.9 billion (£7.5bn) and $42.6 billion (£29.3bn) respectively.

However Europe’s fund fell 18%  to $58.5 billion (£40.3bn) – the weakest figure since 2006, the report added.

It stated: “There was $20 billion (£13.8bn) of asset finance in clean energy technologies such as smart grid and utility-scale battery storage, representing an 11% rise on 2014.”