Global solar investments topped US$160.8 billion in 2017

Global solar investments topped US$160.8 billion in 2017

Bloomberg New Energy Finance (BNEF) has reported that global solar investments topped US$160.8 billion in 2017, an 18% increase over the previous year and importantly, despite capital costs declining around 25%.

Not surprisingly, China led to the investment, accounting for US$86.5 billion of the total, 58% higher than in 2016 as the country hit a new 53GW plus of PV installations in 2017.

Justin Wu, head of Asia-Pacific for BNEF, said: “China installed about 20GW more solar capacity in 2017 than we forecast. This happened for two main reasons: first, despite a growing subsidy burden and worsening power curtailment, China’s regulators, under pressure from the industry, were slow to curb build of utility-scale projects outside allocated government quotas. Developers of these projects are assuming they will be allocated subsidy in future years.

“Second, the cost of solar continues to fall in China, and more projects are being deployed on rooftops, in industrial parks or at other distributed locales. These systems are not limited by the government quota. Large energy consumers in China are now installing solar panels to meet their own demand, with a minimal premium subsidy.”

Source: Pv-Tech

Date: January 2018

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