NEWS
Investment   Renewable Energy  

China Leads Worldwide Renewable Investment With $126b

China invested a total of $126.6 billion in renewable energy in 2017, the highest figure ever and accounting for 45% of global green energy investment, the "Global Trends in Renewable Energy Investment 2018" report showed.

Total global investment in renewables last year increased by 2% to $279.8 billion, taking cumulative investment since 2010 to $2.2 trillion, and to $2.9 trillion since 2004, according to the report by UN Environment, the Frankfurt School-UNEP Collaborating Center and Bloomberg New Energy Finance, Oil Price reported.

“The latest rise in capital outlays took place in a context of further falls in the costs of wind and solar that made it possible to buy megawatts of equipment more cheaply than ever before,” the authors of the report wrote.

Last week, BNEF said in another report that tumbling costs for wind, solar and batteries are squeezing fossil fuels as a source of power generation.

According to the more recent report, China led in total renewable investment with a record-high spending that was up 31% on the year.

China saw an “extraordinary solar boom” last year with around 53 GW installed and solar investment of $86.5 billion, up 58% from 2016.

Globally, solar power attracted far more investment than any other technology—$160.8 billion, an 18% annual increase—and China was the “driving power” behind it, the report said.

For all renewable sources, Australia, Mexico and Sweden saw sharp increases in investment, while renewable energy investment in the US was far below China’s and dropped by 6% annually to $40.5 billion.

“It was relatively resilient in the face of policy uncertainties, although changing business strategies affected small-scale solar,” the report said of the US investment.

European investments dropped 36% to $40.9 billion, due to a 65% fall in UK investment that reflected an end to subsidies for onshore wind and utility-scale solar, and a big gap between auctions for offshore wind projects.

Germany’s investment slumped 35% on lower costs per MW for offshore wind and uncertainty over a shift to auctions for onshore wind.

News No: 2055
Date: 2018/04/09 - 01:04
News Source: Financial Tribune

Worldwide Renewable Investmen  Renewable Energy 

Comments:

Leave a Comment:

   
   
   
 

Iran Vows to Win Share in Global Biotechnology Market

Chairman of the Biotechnology Development Council Mostafa Qaneie said on Sunday that Iran is planning to take up to 3% market share of global biotechnology industry, adding that the country is enjoying an asset of 15,000 biotechnology graduates to reach this goal.
 

Iran, Slovakia to Boost Cooperation on Renewable Energy

A host of Slovakian business activists visiting Tehran, in a meeting with Deputy Chairman of the Iranian Parliament’s Energy Commission Hossein Amiri Khamkani, reassured that they are resolute to strengthen cooperation on renewable energies.
 

Share of Renewable Energy in Mongolia Reaches Record High

The share of renewable energy in Mongolia's total electricity production has reached a record high in 2018, local media reported Monday.
 

Iran to Build 1,000 MW New Solar Farm

The largest-ever solar farm of Iran will be constructed in a 2,000-hectares land in Markazi province to generate as much as 1,000 megawatts of electricity.
 

Iran Expanding Renewable Energy Capacity

Iran's Ministry of Energy announced that the country is enjoying a 670 megawatt capacity of renewable energy, informing that 445 megawatts of more capacity will be added as new plants are under construction.
 

Deputy Energy Minister: Iran to Set Up 3,000 Solar Energy Power Plants in Rural Areas

Iranian Deputy Energy Minister Seyed Mohammad Sadeqzadeh announced on Tuesday the country's plans to install thousands of small solar power plants in areas which suffer drought.
Upcoming Events
Publications
 Mines & Metals

Mine & Business Today

 Scrap & Recycling

Ahangan

Our partners