Figures published by the UN Environment Programme (UNEP) have revealed that the amount of money invested in renewable energy was more than double the figure spent on coal and natural gas in 2015.
The UNEP data shows that close to $286 billion was spent on clean energy last year, surpassing the previous peak reached in 2011 when the world spent $278 billion on renewable power generation.
Another significant trend evident in the UNEP data showed how clean power spending in the developing world has now overtaken that of the developed world, with Europe in particular falling significantly. Bloomberg New Energy Finance (BNEF) data shows that investment fell by a fifth to $49 billion last year.
However, Chinas spending rose sharply to $103 billion, accounting for 36% of all clean energy investment worldwide in 2015. Investment across the U.S. clean energy sector rose by one-fifth to $44 billion, but remains significantly below Chinas level of expenditure.