Bloomberg New Energy Finance just reported on the level of investment in 2015. And there is great news for Germany.
The 2014 reform of the Act on Renewable Energy (formerly the Act on Priority for Renewable Energy) has reduced investment in Germany to a measly $10.6 billion, down 42% from 2014.
That’s fantastic news, if your agenda is to delay the transition from fossil fuel. It is less so if you want to actually reduce CO2 emissions.
And this doesn’t make sense even if there was no urgent global warming problem. Why stop investing once solar and wind are so cheap as they are now?
Meanwhile, China is up by another 17 percent to $110.5 billion, leading the world by a large margin. And the whole world has seen $329.3 billion, the highest figure ever. Which is all the more remarkable since all fossil fuel prices were down massively in 2015.
This highest figure ever combines with the lowest prices ever to the highest capacity increase ever.
It is sad to see how Germany is slowing down. But China is much more important for the global warming big picture.