BNEF estimates 70 GW of solar were added in 2016 worldwide

BNEF estimates 70 GW of solar were added in 2016 worldwide

12.01.2017: Research company Bloomberg New Energy Finance (BNEF) estimates that a record of 70 GW of solar capacity were added last year, up from 56 GW in 2015. Furthermore, 56.5 GW of wind power was installed, down from 63 GW.
Overall, new investment in clean energy worldwide fell 18 percent last year to $287.5 billion. Solar was the leading sector once again, at $116 billion, but this was 32 percent down on 2015 levels, due in large part to lower costs per MW (wind: $110.3 billion, down 11 percent).
Clean energy investment in China in 2016 was $87.8 billion, down 26 percent on the all-time high of $119.1 billion reached in 2015, while the equivalent figure for Japan was $22.8 billion, down 43 percent.
Investment in the whole Asia-Pacific region including India and China fell 26 percent to $135 billion, some 47 percent of the world total. India was almost level with 2015, at $9.6 billion, with several giant solar photovoltaic plants going ahead.
Clean energy investment in the US slipped 7 percent to $58.6 billion, Canada was down 46 percent at $2.4 billion.
According to the figures of BNEF, Europe was up 3 percent at $70.9 billion. UK investments were $25.9 billion, up 2 percent, while Germany was second at $15.2 billion, down 16 percent. France got $3.6 billion, down 5 percent, and Belgium $3 billion, up 179 percent, while Denmark was 102 percent higher at $2.7 billion, Sweden up 85 percent at $2 billion and Italy up 11 percent at $2.3 billion.
Investment in South Africa fell 76 percent to $914 million, while Chile dropped 80 percent to $821 million, Mexico fell 59 percent to $1 billion and Uruguay 74 percent to $429 million. Brazil edged down 5 percent to $6.8 billion.
Jordan broke the $1 billion barrier for the first time, says BNEF, and increased its clean energy investment by 147 percent to $1.2 billion in 2016.
The biggest seven financings were all in offshore wind in Europe. Small-scale projects of less than 1 MW – including rooftop PV – attracted 28 percent less investment than the previous year, the 2016 total finishing at $39.8 billion. Most of this year-on-year drop reflected falling costs of solar systems rather than a decline in interest from buyers.

 

Monty Bannerman

ArcStar Energy

+1-646-402-5076

www.arcstarenergy.com