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Low-Carbon Energy Supply in 2015 Exceeded Global Power Growth Demand

© AP Photo / Elizabeth DalzielWind turbines produced by Goldwind Science & Technology Ltd. are seen at the Da Bancheng Wind Farm, south of Urumqi, in Xinjiang, China
Wind turbines produced by Goldwind Science & Technology Ltd. are seen at the Da Bancheng Wind Farm, south of Urumqi, in Xinjiang, China - Sputnik International
A major shift in investment towards low-carbon sources of power generation is underway, according to the report of the International Energy Agency (IEA).

A man rides a camel through the desert oil field and winter camping area of Sakhir, Bahrain, Sunday, Dec. 20, 2015 - Sputnik International
Global Energy Investment in 2015 Dropped by 8% due to Fall in Oil, Gas Financing
MOSCOW (Sputnik) — The amount of low-carbon energy supplied in 2015, including through renewable and nuclear power generation sources, surpassed the growth of global power demand, the International Energy Agency (IEA) said in its monthly report.

"A major shift in investment towards low-carbon sources of power generation is underway. New low-carbon generation – renewables and nuclear – from capacity coming online in 2015 exceeds the entire growth of global power demand in that year," the World Energy Investment 2016 report said.

Investment in renewable sources of energy, wind, solar and hydropower, has almost reached $290 billion, the energy watchdog stated, adding that nuclear power investment hit the 20-year record largely due to significant spending in China.

In this Monday, Nov. 24, 2014 file photo, smoke streams from the chimneys of the E.ON coal-fired power station in Gelsenkirchen, Germany - Sputnik International
Gov’ts Rely Mostly on Carbon Emissions Charges for Revenue Source
Despite the speedy decarbonisation of power, the pace is not fast enough to keep average temperature increases below 2 degrees Celsius as Paris climate agreement suggests.

The international community is striving to tackle global climate change. Within the framework of the international efforts, the Paris deal on climate change was signed in December 2015. The agreement calls on all parties to respect their human rights obligations when taking action to address climate change and specifically to limit global average temperatures to less than 2 degrees Celsius above pre-industrial levels by reducing emissions.

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