Investment in renewable energy decreased in 20013-REN21

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A mobile charging solar unit. UN Photo/Mark Garten

Production of renewable energy has increased but investment in the sector declined in 2013, according to a report launched on Tuesday.

The annual publication by the Renewable Energy Policy Network for the 21st Century (REN21) gives a comprehensive overview on the status of the renewable energy industry, market policy and investment trends.

The report, produced since 2005, reveals that 2013 was another record year with about 6.5 million people working in the renewable energy industry.

More than 144 countries, 95 of which are in developing countries, have renewable energy policies and targets in place.

Christine Lins the Executive Secretary of REN21 said capacity for producing renewable energy increased.

"So we had an addition of about 40 gigabytes of hydropower, 39 gigabytes of photovoltaic, 35 gigabytes of wind. For the first time, solar surpassed wind. With all this, nevertheless, we had a decrease in investment. Investment in renewable energy in 2013 was in the order of US $250 billion which is on the one hand due to reduced policy support in some part of the world such as the European Union and the United States but also which is clearly due to the fact that technology costs have come significantly down." (31")

Ms. Lins said the reduction in prices is making renewable energy "cost competitive" with conventional energy sources.

She added that "this opens up lot of possibilities for renewables, especially in emerging economies and developing countries".

Derrick Mbatha, United Nations

Duration:  1’55″

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