Investment shifts towards low carbon energies, renewables and nuclear
On 14 September, the International Energy Agency (IEA) published its report entitled World Energy Investment 2016, which confirms that an energy transition towards cleaner technologies, renewables and nuclear, is currently taking place thanks to government’s policies. In 2015, investment in nuclear energy “reached its highest level for two decades”; mostly due to nuclear new build in China, according to the report.
“We see a broad shift of spending toward cleaner energy, often as a result of government policies,” said Fatih Birol, IEA Executive Director.
However the report warns that low wholesale prices and weak carbon prices continue to impede nuclear investment in Europe and North America: “In several countries, nuclear capacity is ageing with little investment going to replacement capacity, and renewables are struggling to compensate for reduced nuclear output.” Around $21 billion were invested last year in nuclear new build and $313 billion in renewables.
For further information, please consult the IEA page on the report.