Plunging prices and booming investments are beginning to reshape the energy market, according to a couple of reports that were released this week. A report produced on behalf of Bloomberg says that investments in renewable energy have gone up by roughly a third over the last year, to $211 billion. Led by China's renewable push, the world is now on a trajectory that will see its investments in renewable electricity surpass those in fossil fuels within a year or two. As a result of these investments, the US is now producing more renewable energy than nuclear power.
First, renewable investments. Bloomberg's New Energy Finance group has collaborated with the UN Environment Programme and the Frankfurt School of Finance and Management to produce a global overview of funding for renewable power. This includes the obvious—financing for the construction of utility-scale projects and home installations—and some non-obvious funding, like merger and acquisition activity.