article thumbnail

BNEF: global investment in energy transition hit $500B in 2020; $139B on EVs and infrastructure

Green Car Congress

Highlights of the renewables investment total included a leap of 56% in financings of offshore wind projects to $50 billion, including the largest deal ever in that sub-sector—$8.3 The year also saw the largest single solar park ever funded, the 2GW Al Dhafrah in the United Arab Emirates, at a cost of $1.1

2020 259
article thumbnail

Report for IPCC finds renewables could supply up to 77% of global energy by 2050 under most optimistic scenario; need for enabling public policies and investments

Green Car Congress

This could contribute towards a goal of holding the increase in global temperature below 2 °C—an aim recognized in the United Nations Climate Convention’s Cancun Agreements. Others, such as advanced systems converting woody wastes into liquid fuels, can deliver 80% to 90% emission reductions compared to fossil fuels.

Renewable 218