The volume of investment in renewable energy in the world will reach 7 trillion dollars

ArabiaWeather.com - A report on the “Global Energy Outlook 2015” of the International Energy Agency estimated that the volume of investment in the renewable energy sector in the world will reach $7 trillion within 25 years.

The report added that the renewable energy sector will produce 43% of the total electricity production in the world by 2040, indicating that the value of government support for renewable energy projects during the period (2015-2040) will increase by 60%, to reach $172 billion.

China will be the largest market in the renewable energy sector, followed by the European Union, while India will rank third and the United States of America will rank fourth.

It is expected that electricity production from renewable energy will increase until 2040, by 50% in the European Union, 30% in China and Japan, and 25% in the United States and India.