Global renewable energy investments reached $279.9 billion in 2017, a 2.11 percent increase year-on-year, according to the Renewable Energy Policy Network for the 21st Century, REN21's Tuesday report.
Additional installed renewable power capacity increased by almost 178 gigawatts (GW), while global renewable energy capacity reached 2,195 GW, the report said.
Last year, renewables accounted for 70 percent of total net additions to installed capacity, according to the report – this is more than double the capacity in 2016 of 30 percent.
"Solar photovoltaics accounted for 402 GW in 2017, a 32.67 percent increase compared to 2016, while wind energy accounted for 539 GW last year," the report showed.
With the help of renewable energy investments, global renewable energy employment totaled 10.3 million globally.
By Gulsen Cagatay