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04 UNITED STATES Citizens’ involvement beyond the community’s border Vermont’s first community-owned solar facility in Putney serves 49 customers across nine counties. The customers not only consume the renewable electricity generated by the solar PV plant, but also financially participate in the utility and collectively own the facility. The project – a joint effort with the solar developer – enables citizens without suitable roofs or spaces to engage in bringing solar energy to their community. Working together with their local utility, this community demonstrated the potential for successful partnerships with the private sector to bring renewable energy to the local level. Vermont, United States | Created: 2013 | Participating utility customers: 49 | Capacity: 114kW solar PV
04 INVESTMENT FLOWS Global new investment in renewable power and fuels (not including hydropower projects >50 MW) was USD 285.9 billion in 2015, as estimated by Bloomberg New Energy Finance (BNEF) i . This represents a rise of 5% compared to the previous year and exceeds the previous record of USD 278.5 billion achieved in 2011 ii . Investment in renewable power and fuels has exceeded USD 200 billion per year for the past six years. (p See Figure 35.) Including investments in hydropower projects larger than 50 MW, total new investment in renewable power and fuels was at least USD 328.9 billion in 2015 iii . 1 Note that these estimates do not include investment in renewable heating and cooling technologies. ( R See Reference Tables R14.) In 2015, global investment in new renewable power capacity (excluding hydropower >50 MW), at USD 265.8 billion iv , was more than double the USD 130 billion allocated to new coal- and natural gas-fired generation capacity. This represents the largest difference in favour of renewables to date. If hydropower projects >50 MW are considered, the spread between renewables and fossil fuel investment in new power capacity is even greater. Figure 35. Global New Investment in Renewable Power and Fuels, Developed, Emerging and Developing Countries, 2005–2015 Billion USD 300 250 World total Developed countries China, India & Brazil Other developing countries 239 279 257 234 273 286 billion USD 200 150 100 73 112 83 154 108 182 179 123 60 114 64 164 75 191 87 151 106 136 98 142 131 130 156 Source: BNEF, see footnotes i and iii for this section. 50 20 53 29 46 9 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 04 Does not include investment in hydropower > 50 MW i This chapter is derived from UNEP’s Global Trends in Renewable Energy Investment 2016 (Frankfurt: 2016), the sister publication to the GSR, prepared by the Frankfurt School–UNEP Collaborating Centre for Climate & Sustainable Energy Finance (FS-UNEP) in co-operation with BNEF. Data are based on the output of the desktop database of BNEF, unless otherwise noted, and reflect the timing of investment decisions. The following renewable energy projects are included: all biomass and waste-to-energy, geothermal and wind generation projects of more than 1 MW; all hydropower projects of between 1 and 50 MW; all solar power projects, with those less than 1 MW estimated separately and referred to as small-scale projects or small distributed capacity; all ocean energy projects; and all biofuel projects with an annual production capacity of 1 million litres or more. For more information, please refer to the FS-UNEP/BNEF Global Trends report. Where totals do not add up, the difference is due to rounding. ii Note that declining costs of some renewable energy technologies (particularly solar PV and wind power) have a decremental impact on total investment (all else being equal). Thus, growth in investment (monetary) does not reflect actual growth in installed renewable power capacity. iii Investment in large hydropower (>50 MW) is not included in the overall total for investment in renewable energy. BNEF tracks only hydropower projects of between 1 MW and 50 MW, but it does make estimates for hydro >50 MW. iv This number is for renewable power asset finance and small-scale projects. It differs from the overall total for renewable energy investment (USD 285.9 billion) provided elsewhere in this chapter because it excludes biofuels and some types of noncapacity investment, such as equity-raising on public markets and development R&D. RENEWABLES 2016 · GLOBAL STATUS REPORT 99
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04<br />
UNITED<br />
STATES<br />
Citizens’ involvement beyond the community’s border<br />
Vermont’s first community-owned solar facility in Putney serves 49 customers across nine counties.<br />
The customers not only consume the renewable electricity generated by the solar PV plant, but also financially<br />
participate in the utility and collectively own the facility. The project – a joint effort with the solar developer<br />
– enables citizens without suitable roofs or spaces to engage in bringing solar energy to their community.<br />
Working together with their local utility, this community demonstrated the potential for successful partnerships<br />
with the private sector to bring renewable energy to the local level.<br />
Vermont, United States | Created: 2013 | Participating utility customers: 49 | Capacity: 114kW solar PV
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