Surprising growth in global clean energy investment in 2017

    China's thirst for solar power led to an unexpected surge in global investment in clean energy last 1year 16, despite U.S. President Donald Trump's reversal in curbing pollution and curbing coal, according to a Bloomberg report.  

Global investment in renewable energy and cutting-edge power technologies reached about 3335$100 million last year, up 3 percent year-on-year and 2015year ’s all-time high 7 percent below the .Almost half of these investments are in solar projects ;China's investment accounts for 40% of the global total。

Investment growth came in the face of strong headwinds.On the one hand, the prices of solar panels and wind turbines are falling rapidly, and on the other, countries such as the United States, Germany and Poland have eased policy restrictions on the most polluting fossil fuels.Developers speculate they will receive subsidies in China, as well as rising clean energy spending in countries such as Australia and Mexico, offsetting declines in more mature markets such as Europe.

"If the cost of photovoltaics continues to fall sharply, taking into account the leading technology, 2017the total annual investment will be even more eye-catching, " said Jon Moore , CEO of Bloomberg New Energy Finance ."Last year, the price per megawatt of a typical utility-scale PV system was 25% cheaper than it was two years ago ."

As devices such as solar panels and wind turbines become more mass-produced, they are getting cheaper.Falling costs have opened up new markets outside rich countries.Now, solar and wind power is an increasingly economical way to supply electricity to areas with limited access to the grid.

China spent $100 million on clean energy technology last year 1330, up 24 percent from a year earlier .The world's largest renewable energy market has struggled to rein in the solar boom, limiting the construction of utility-scale PV projects outside quotas.However, more photovoltaic panels have been installed in the industrial park, where energy-intensive companies are trying to meet some of their own needs and reduce costs.

"China's boom remains fundamentally irrational," Jenny Chase , chief solar analyst at Bloomberg New Energy Finance , wrote in a note to clients."The subsidy mechanism has yet to be determined. However, it looks like China's state-owned developers and investors are going to build these projects anyway, and assuming the government finds a solution ;, even if not, the compensation for electricity itself could prevent a complete draw."

The United States invested 570$100 million last year, ranking second.Developers spend more on clean energy despite Trump's loosening of power plant emissions rules1% 。

(Source: Industrial Boiler Branch of China Electrical Equipment Industry Association)