• 4 minutes England Running Out of Water?
  • 7 minutes Trump to Make Allies Pay More to Host US Bases
  • 10 minutes U.S. Shale Output may Start Dropping Next Year
  • 14 minutes Washington Eyes Crackdown On OPEC
  • 6 hours Russian Effect: U.S. May Soon Pause Preparations For Delivering F-35s To Turkey
  • 5 hours Poll: Will Renewables Save the World?
  • 5 hours New Rebate For EVs in Canada
  • 5 hours China's Expansion: Italy Leads Europe Into China’s Embrace
  • 1 hour One Last Warning For The U.S. Shale Patch
  • 39 mins Chile Tests Floating Solar Farm
  • 8 hours Biomass, Ethanol No Longer Green
  • 4 hours Trump Tariffs On China Working
  • 8 hours The Political Debacle: Brexit delayed
  • 23 hours No Mercy: EU Fines Google $1.7 billion For Abusing Online Ads Market
  • 3 hours 3 Pipes: EPIC 900K, CACTUS II 670K, GREY OAKS 800K
  • 14 hours Boeing Faces Safety Questions After Second 737 Crash In Five Months
  • 20 hours Oil-sands recovery by solvents has started on a trial basis; first loads now shipped.
Crude Oil Stocks Rise Despite U.S. Sanctions

Crude Oil Stocks Rise Despite U.S. Sanctions

U.S. sanctions haven’t led to…

Oil Slips As Alberta Relaxes Oil Production Cuts

Oil Slips As Alberta Relaxes Oil Production Cuts

The Canadian province of Alberta…

Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for the U.S.-based Divergente LLC consulting firm with over a decade of experience writing for news outlets such as iNVEZZ and…

More Info

China Leads Global Renewable Investment With $126.6 Billion

Solar panels

China invested a total of US$126.6 billion in renewable energy in 2017, the highest figure ever and accounting for 45 percent 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 percent to US$279.8 billion, taking cumulative investment since 2010 to US$2.2 trillion, and to US$2.9 trillion since 2004, according to the report by UN Environment, the Frankfurt School-UNEP Collaborating Centre, and Bloomberg New Energy Finance (BNEF).

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

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

Related: Escalating Trade War Ups Pressure On Oil Prices

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

European investments dropped 36 percent to US$40.9 billion, due to a 65-percent 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 percent on lower costs per MW for offshore wind, and uncertainty over a shift to auctions for onshore wind.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment
  • sektong chan on May 10 2018 said:
    More worse climate conditions are expected on 2018! Please Take Action do something!. https://iri.columbia.edu/our-expertise/climate/forecasts/seasonal-climate-forecasts/ https://www.climate.gov/news-features/videos/noaas-mike-halpert-explains-agencys-2018-spring-climate-outlook https://www.accuweather.com/en/weather-news/2018-atlantic-hurricane-outlook-4-us-impacts-predicted-amid-another-active-season/70004533 https://weather.com/storms/hurricane/news/2018-04-04-hurricane-season-forecast-atlantic-colorado-state Simply Flooded parts of Basins, Dried Salt Lakes,Depreesions. And well manage water body systems in North Africa. Will greatly reduce or even eliminate the risks of Global Warming, Global flooding, fatal powerful storms, Forest wildfires problems on Earth! Agree & Support our 100 million dollars, one unit can produce 4 million Kwh renewable energy project. Will fully supply cheap renewable energy fuels for whole World. Zero Emission. And will fixed all climate poverty problems on Earth! Details Questions? Please contact sektong-chan@msn.com Chicago

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News