Renewable energy is quickly becoming an essential aspect of the global energy mix. The trend of investing in renewable energy is driven by a need to mitigate the effects of climate change and an ever-increasing demand for energy worldwide. This blog post explores the current state of renewable energy investment and the opportunities available for investors looking to get in on the action.
The Current State of Renewable Energy Investment
Renewable energy investment has been increasing over the years, with a record of $303.5 billion invested in renewable energy worldwide in 2020, according to the International Energy Agency. The majority of this investment has gone into solar and wind power, with solar investments taking the lead. The global renewable energy market is expected to grow at a compound annual growth rate (CAGR) of 7.4% from 2020 to 2027, indicating a bright future for renewable energy investment.
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