(Ecofin Agency) - According to a new report from the International Enrgy Agency (IEA), in 2015, $313 billion were injected in renewable energies. This is 8% lower than what was invested the year before.

“Renewable energy investments accounted for nearly a fifth of total energy spending last year, establishing renewables as the largest source of power investment. While spending on renewable power capacity was flat between 2011 and 2015, electricity generation from the new capacity rose by one third, reflecting the steep cost declines in wind turbines and solar PV,” IEA said in a statement.

For Fatih Birol, IEA’s executive director, the transition to clean energies is mostly due to measures taken governments worldwide. He encouraged the effort saying it should be pursued and intensified.

Globally, $1.8 trillion has been invested in the energy sector (oil & gas and electricity) in the past year. The decrease from 2014’s $2 trillion was mainly due to investors turning their eyes from oil and gas. 17% of the $1.8 trillion invested went to renewable which grabbed 16% of total investment in 2014. From 12% in 2014, transport networks received 14% of the investment last year, while energy efficiency received 12% compared to 10% two years ago.

Gwladys Johnson