Cheap oil, gas didn’t stop another record year for renewables

Categories: Big picture
Published on: January 14, 2016

Bloomberg Business / Tom Randall / 14 January 2016

renewables investment 2015Renewables just finished another record-breaking year, with more money invested ($329 billion) and more capacity added (121 gigawatts) than ever before, according to new data released Thursday by Bloomberg New Energy Finance.

This wasn’t supposed to happen. Oil, coal and natural gas bottomed out over the last 18 months, with bargain prices not seen in a decade. That’s just one of a handful of reasons 2015 should have been a rough year for clean energy. But the opposite was true.

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