Solar Investment Powers Ahead And Africa Opens Up
Friday, April 13, 2018
By Felicia Jackson
Solar deployment in 2018 is expected to outpace the 2017 record of 98GW, according to the latest analysis from Bloomberg New Energy Finance (BNEF). Emerging markets continue to drive growth, and the African solar market is growing rapidly.
The quarter to the end of March saw solar investment fall 19% to $37.4 billion, affected by lower unit prices for photovoltaic systems, as well by weaker activity in some markets. BNEF estimates that benchmark global dollar capital costs per MW for utility-scale solar PV have fallen 7% in the last year.
Activity in emerging markets continues to grow. China once again accounted for more than 40% of the world’s total investment in renewable energy , and large scale projects reached financial close in Morocco, Vietnam, Indonesia and Mexico.
Photo courtesy of Pixabay.com.