The strongest and most consistent upswing in dollar commitments has come in China, which invested just $3 billion in 2004, then multiplied this 13-fold by 2010 and another two and half times by 2015, to a record $102.9 billion. Other regions have not trodden quite such a consistent upward path, although Asia-Oceania excluding China and India saw investment reach $47.6 billion in 2015 (largely thanks to Japan). This was slightly less than the previous year’s $48.8 billion but far above 2004’s $7.3 billion. And India enjoyed a second-successive year of increasing investment, breaching the $10 billion for the first time since 2011. The Middle East and Africa saw investment gather pace from less than $1 billion in 2004 to a record $12.5 billion in 2015, thanks partly to South Africa’s successful auction programme. The Americas excluding the US and Brazil have seen investment bobbing around the $10 billion to $13 billion range since 2010, but behind this has been a general upward trend in Spanish-speaking Latin America and volatile year-on-year figures from Canada. Of the remaining large geographical areas in Figure 12, the US saw investment pick up in the last two years to reach its highest since the peak of “green stimulus” spending in 2011. The latest spurt has owed most to solar – both utility-scale and rooftop. Europe, meanwhile, recorded its biggest year for investment in dollar terms back in 2011, and has seen sharp falls since then, with 2015 the lowest figure since 2006.
Read more in the REN21 in their Global Status Report