Runaway 53GW Solar Boom in China Pushed Global Clean Energy Investment Ahead in 2017

What an incredible year 2017 was for renewable energy in general and solar in particular.

Bloomberg New Energy Finance (BNEF) is widely regarded as the top analyst and data collector doe all things clean energy, and they have just released their 2017 report.

From BNEF:

An extraordinary boom in photovoltaic installations made 2017 a record year for China’s investment in clean energy. This over-shadowed changes elsewhere, including jumps in investment in Australia and Mexico, and declines in Japan, the U.K. and Germany.

Annual figures from Bloomberg New Energy Finance (BNEF), based on its world-leading database of projects and deals, show that global investment in renewable energy and energy-smart technologies reached $333.5 billion last year, up 3% from a revised $324.6 billion in 2016, and only 7% short of the record figure of $360.3 billion, reached in 2015. This takes cumulative investment since 2010 to $2.5 trillion.

Jon Moore, chief executive of BNEF, commented: “The 2017 total is all the more remarkable when you consider that capital costs for the leading technology – solar – continue to fall sharply. Typical utility-scale PV systems were about 25% cheaper per megawatt last year than they were two years earlier.”

Read the full article at Bloomberg
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