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Renewable energy sources grew at record pace in the world in 2015, the year the first time the emerging countries outperformed the richest in investments in this area, according to the Renewables 2016 Global Status Report.

Investments in wind, solar and hydro were also more than twice the amount invested in new plants of coal and gas, says report, conducted annually by REN21 – organization that brings together a network of entrepreneurs, scientists and public officials in favor of advancement of this sector. At the same time, renewable costs were also reduced.

Last year, about 147 gigawatts (GW) of renewable energy, particularly wind and solar, have been added to the generation capacity of the planet, equivalent to the entire generating capacity from all sources in Africa.

China, United States, Japan, Britain and India were the countries that contributed most to this growth, although the prices of fossil fuels have fallen significantly in 2015.

Although not among the top five countries in total applied, Brazil stands out to occupy the second position in investments in hydroelectric power, biodiesel and ethanol, behind China, and the fourth in wind energy.

“This increase, mainly from solar and wind energy, is a clear indication that these technologies are financially competitive (compared to fossil fuels),” said Christine Lins, executive secretary of REN21.

In the European Union, despite a fall means of investments in renewables around 21%, these are now the main source of energy, accounting for 44% of generation capacity in 2015.

The study authors point out that a compromise signal country with renewable energy is that, in early 2016, have 173 goals for the expansion of its offer. And not only are the nations that are progressing. In the US, 154 companies responsible for employing 11 million people, have pledged to consume only renewable energy.

However, some areas still resist the transition to these sources, such as transport and heating and cooling sector. The fall in oil prices contributed to it. “Working in this industry for 20 years, and now the economic arguments are fully in favor of it,” said Lins. “The industry of renewable energy does not depend on more than a handful of markets. It became itself a global market, and that’s very exciting. And the best is yet to come.”

 

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He was born in California, US. He graduated from California University with a degree in Computer Sciences, and now works for Reuters and running this Weekly Newspaper. Alongside his day jobs in Reuters, McDonald is also broadcasting a Weekly Gazette.