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Renewable energy investment revs up worldwide


Source: SMH, 2 April 2015

From China to Mexico, renewable energy investments are hot, with Australia one notable exception.

Global investment in renewable power and fuels reached $US270.2 billion ($355 billion) last year, nearly 17 per cent higher than in 2013, according to a new study on renewable energy investment from the United Nations Environment Programme.

This figure marks the first increase in three years. Together, wind, solar, biomass and waste-to-power, geothermal, small hydro and marine power are estimated to have generated 9.1 per cent of the world's electricity in 2014, compared to 8.5 per cent in 2013.

China led the pack as the location of the biggest renewable energy investments last year, with $US83.3 billion, followed by the US at $US38.3 billion and then Japan with $US35.7 billion.

Australia was one country to buck the trend, with investment in large-scale renewable energy all but drying up in 2014.

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