US$1.3 billion invested in geothermal power
Investments in renewable energy made up more than half of all private investments last year, signaling a low-carbon shift is under way, the World Bank said.
A report from the bank finds global private investments held relatively steady from 2014 to total $111.6 billion last year. Investments in renewable energy, however, were higher in 2015 than during the past five years.
Renewable energy continues to make inroads in the energy mix of many developing countries. Solar energy commitments in particular have seen solid gains. At US$9.4 billion, commitments in solar energy in 2015 were 72 percent higher than the five-year average of US$5.5 billion (2010−2014).
While solar comprised one-quarter of all energy investments, renewables made up 63 percent of all energy commitments in 2015, exceeding the five-year average of 45 percent and ten-year average of 39 percent. This indicates a move toward wind (US$9.4 billion), hydro (US$2.9 billion), and geothermal (US$1.3 billion) power.
