chinese solar boom sparks global renewables boon
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice
Emiratesvoice, emirates voice
Last Updated : GMT 05:17:37
Emiratesvoice, emirates voice

Chinese solar boom sparks global renewables boon

Emiratesvoice, emirates voice

Emiratesvoice, emirates voice Chinese solar boom sparks global renewables boon

Paris - Emirates Voice

A Chinese boom in solar panel installation last year helped drive global investment in renewable clean energy technology to record levels, a new study showed Tuesday.

After a dip in 2016, overall global investment in the sector rose 3.0 percent to a total $333.5 billion, offsetting falls in Japan, Germany and Britain, according to the Bloomberg New Energy Finance (BNEF) study.

That was the second best annual showing to date after $360.3 billion in 2015.

"The 2017 total is all the more remarkable when you consider that capital costs for the leading technology -– solar -– continue to fall sharply," said BNEF chief executive Jon Moore.

Solar investment came in at $160.8 billion in 2017, a rise of 18 percent despite per megawatt capital costs falling by around a quarter, with China accounting for around half the overall total at $86.5 billion -- up 24 percent, the study said.

"China installed about 20 GW more solar capacity in 2017 than we forecast," said Justin Wu, BNEF head of the Asia-Pacific region, as the Chinese notably showed off the world's first photovoltaic expressway.

Investment in wind power slipped back 12 percent last year, however, to $107.2 billion after a strong rise in 2016.

Solar and wind power remain far out in front in terms of renewable energy forms ahead of the likes of biomass, geothermal and small scale hydroelectricity which each attracted less than $5 billion last year.

Well behind China, the United States landed investments of $56.9 billion -- a rise even so of 1.0 percent despite an unfavourable political climate with President Donald Trump sceptical of climate change and withdrawing his country from the Paris climate agreement.

The study highlighted what it termed Washington's "less friendly tone towards renewables."

A handful of countries saw investments more than double, including Sweden to $4 billion and Australia to $9 billion.

Egypt saw a 495 percent increase to $2.6 billion while investment in the United Arab Emirates enjoyed a dizzying 23-fold rise to $2.2 billion.

Europe saw a notable decline in renewables investment to $57.4 billion, the fall-off hitting 26 percent in Germany and 56 percent for the United Kingdom on energy policy changes

Japan saw a 16 percent drop, while India was down 20 percent to $11 billion.

BNEF estimated last year saw a record 160 gigawatts of renewable power installed, not counting hydroelectricity, comprising 98 GW of solar and 56 GW of wind power.

Energy-smart technology, such as smart meters and energy storage, is also making headway, BNEF noted.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

chinese solar boom sparks global renewables boon chinese solar boom sparks global renewables boon

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

chinese solar boom sparks global renewables boon chinese solar boom sparks global renewables boon

 



GMT 10:31 2014 Tuesday ,23 December

Mirages of failure: Lebanon cannot wait

GMT 08:03 2017 Friday ,05 May

UNHRC Warns of 50,000 At Risk in South Sudan

GMT 11:03 2011 Thursday ,01 September

North Korea to rent farm land in Russia\'s Far East

GMT 11:22 2017 Sunday ,31 December

HM King congratulates Cuban President

GMT 07:46 2017 Wednesday ,06 September

French fashion giants LVMH, Kering ban ultra-thin models

GMT 00:30 2017 Thursday ,26 October

'Anaemic' iPhone 8 demand drags Apple lower

GMT 11:51 2017 Thursday ,07 September

Gulf Air increases Moscow daily flights

GMT 08:04 2017 Wednesday ,22 March

Bahraini-Thai ties reviewed

GMT 07:07 2017 Thursday ,15 June

U.S. accuses North Korea of hacking spree

GMT 08:56 2017 Monday ,15 May

ERC opens health centre Yemen's

GMT 13:45 2016 Friday ,11 November

Will 'clarify positions' with Trump in call Friday

GMT 20:38 2016 Thursday ,17 November

Katy Perry presents music label with Hollywood star

GMT 12:05 2017 Thursday ,02 March

Boost to Saudi-Indonesia ties

GMT 07:59 2017 Monday ,31 July

Tunisia law on violence against women

GMT 08:03 2018 Thursday ,18 January

Nadal dominant as Wozniacki pulls off great escape

GMT 21:44 2018 Wednesday ,10 January

Royal commendation for Bahraini sport achievements

GMT 00:43 2016 Friday ,17 June

Scandal-hit VW turns its sights

GMT 13:27 2017 Friday ,08 September

9 dead, 7 missing on French Caribbean islands
Emiratesvoice, emirates voice
 
 Emirates Voice Facebook,emirates voice facebook  Emirates Voice Twitter,emirates voice twitter Emirates Voice Rss,emirates voice rss  Emirates Voice Youtube,emirates voice youtube  Emirates Voice Youtube,emirates voice youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

emiratesvoieen emiratesvoiceen emiratesvoiceen emiratesvoiceen
emiratesvoice emiratesvoice emiratesvoice
emiratesvoice
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
emiratesvoice, Emiratesvoice, Emiratesvoice