Renewables

Significant Investment Powering New Renewable Generation Capacity

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Aug 05, 2021

New capital investment is being directed toward renewables rather than fossil fuels

Wind and solar electricity generation made up 100% of U.S. power generation capacity additions in the first quarter of 2021, continuing the long-term trend of new capital investment increasingly being directed toward renewables, rather than traditional fossil fuels. This is a global movement, with additions forecasted to grow roughly fivefold between 2020 and 2050. (See the charts above.)

We expect these additions to require $20–$25 trillion in capital globally. As adoption of renewables—already the world’s most cost-efficient providers of power generation—increases over the next three decades, the International Renewable Energy Agency forecasts close to $100 trillion will be spent on increasing renewable generation capacity, grid modernization and energy efficiency.

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