Europe gets so much of its energy from renewables that many leading countries are now facing a new problem: updating their energy grids to handle it all.
Last year, developing countries (including China, India, and Mexico) invested more in renewable energy than developed ones (including the US and Europe).
This is according to a United Nations-backed report released March 24.
Part of the reason for this switch was because of enormous investment in China. More than a third of all the renewables investments around the world in 2015 occurred there.
But it’s also because clean energy spending slowed in Europe — down 21% from $62 billion in 2014 to $48.8 billion in 2015, according to the report.
Ulf Moslener, professor for Sustainable Energy Finance at Frankfurt School and co-author of the report, explained why Europe’s investments are declining.
“These economies already have a significant part of renewables, and are now struggling with adapting their energy systems to these new technologies,” he said in a press conference.
(Sourced from agencies, Feature image courtesy:twitter.com)
