Solar outstrips fossil fuels in 2017 leading record renewables investment, report finds – pv magazine International

It has already been widely reported that 2017 was extraordinary for renewables. Last year, wind and solar saw unprecedented growth as global energy demand increased, while based on improved efficiencies and cost reductions across a global scale, solar PV and onshore wind power were 18% more competitive.

According to the report drafted by BNEF, UNEP and the Frankfurt School-UNEP Collaborating Centre, the world installed a record 98 GW of new solar capacity, which is far more than the net additions of any other technology – renewable, fossil fuel or nuclear.

Solar power stood out as a sound investment decision, garnering US$160.8 billion, up 18% on the previous year.

via Solar outstrips fossil fuels in 2017 leading record renewables investment, report finds – pv magazine International

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