In 2016, total investments in renewables in the three countries was $134 billion, surpassing investments in fossil-fuel based capacity. Nevertheless, the United States and China have to double investments in low-carbon power while India has to almost triple them.

According to the Allianz Climate & Energy Monitor, federal-level policies in China and India are better than those in the United States. The two Asian countries overshoot their annual renewable energy targets regularly and are exiting coal. China, which has ambitious plans to scale up renewables, has topped prior targets, driven by wind and solar deployment and a steady reduction in the use of coal.

By 2020, China aims to raise its renewable power installed capacity by 38 percent from 2015 levels - equaling investments of $361 billion and 680 GW of installed capacity.

Allianz SE published this content on 20 April 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 20 April 2017 07:42:14 UTC.

Original documenthttps://www.allianz.com/en/press/news/studies/170420_renewable-energy-power-play/

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