Notes:  The latest data on global investment in new power production shows the dramatic decline in fossil fuel investment, and an astonishing increase in renewables investment.

According to Bloomberg New Energy Finance and the International Energy Agency investment in renewables rose from $52bn in 2004 to $260b in 2011. Over the same time investment in fossil fuel power production fell from $250b to $40b.

Climate Spectator observes that King coal has been dethroned. It will take a while for the global power system to phase out old power stations and be dominated by renewables, but the transition is proceeding much faster than imagined by most institutions. The International Energy Agency predicted in 2008 that the world would build 64 GW of coal generation in 2010, but when the dust settled on projects built in 2010, only 14 GW of coal was actually built.

Source:  Climate Spectator, "King Coal Dethroned"

Graph source: Gillian King