Posted on: 10/04/2018
A record 98GW of solar capacity was installed globally during 2017, eclipsing the 70GW of fossil fuel capacity that was added, a new report has found.
China accounted for 53GW of solar’s total.
Erik Solheim, head of UN Environment, which compiled the report alongside the Frankfurt School-UNEP Collaborating Centre and Bloomberg New Energy Finance (BNEF), said: “We are at a turning point ... from fossil fuels to the renewable world.
“The markets are there and renewables can take on coal, they can take on oil and gas.”
Global investment in renewable energy climbed by 2% year-on-year to $280 billion (£200bn) in 2017.
China was the largest investor in renewables with $126.6bn, marking the country’s largest ever investment and accounting for 45% of the global total.
Angus McCrone, Chief Editor at BNEF, added: “Much lower costs ... are the driver of solar investment worldwide.”