Globally, $5.9 trillion has gone into the renewable energy and energy efficiency sectors since 2007, according to Ethical Markets' Green Transition Scoreboard. Additional global investment in renewables alone could reach $11.5 trillion through 2050, according to the 2018 Bloomberg New Energy Finance Outlook. The 2017 global investment was $333.5 billion. U.S. investment in 2017 was $57 billion.
This investment has already brought the cost of utility-scale solar down 77%, the cost of wind down 38% and the cost of battery storage down 79% since 2009, a March BNEF study found. Both wind and solar costs dropped 18% in the just first half of 2017, according to the new BNEF Outlook. Battery prices are forecast to fall 67% more by 2030.
"Renewable energy has been the number one source of private sector infrastructure investment in the U.S. for each of the past seven years," ACORE's Wetstone said. "It is one of the nation's most important drivers for new investment and job creation."