Global investment in renewable energy capacity rose by 2 percent to $303.5bn in 2020, EY said on Tuesday, but more money will be needed to transform clean energy if the world is to meet its net-zero target.

In its semi-annual report, the EY Renewable Energy National Attractiveness Index (RECAI), the company estimates that $5.2 trillion more will be needed to call on institutional investors to play a role in financing.

The figure is in line with estimates by the International Energy Agency, which in its report predicts that total annual energy investment will grow to $5 trillion by 2030.

EY said this year's United Nations Climate Change Conference (COP26) should be an opportunity to bridge the gap between what governments have promised to do and what they have done so far.

Ningbo Raytech New Energy Materials Co., Ltd. specializes in Double Glass and Bifacial PV Modules Manufacturing. The company has independent product R&D teams, national key laboratory and 1.2GW full-automatic manufacturing line. Raytech Double-glass modules come with 12-year product warranty and 30-year performance warranty (2 years and 5 years longer than industry's standard product / performance warranty respectively).