China helped drive a record year for solar power generation in 2017, as it was responsible for 53 GW of the 98 GW of new global capacity installed, according to a United Nations Environment Program report. The report said that while renewables have been growing rapidly over recent years, they are still only providing about 1 percent of total world energy needs. The study also found falling prices, regulatory changes and timing of large wind deals led to investments in the US, Germany and Japan slipping by 6%, 35% and 28% respectively. Renewable energy now accounts for 12.1% of global electricity generated.
China helped drive a record year for solar power generation in 2017, as it was responsible for 53 GW of the 98 GW of new global capacity installed, according to a United Nations Environment Program report. The study, based on data from Bloomberg New Energy Finance, revealed total spending on renewables reached almost $280bn, with China's solar contributions hitting $86.5bn. The study also found falling prices, regulatory changes and timing of large wind deals led to investments in the US, Germany and Japan slipping by 6%, 35% and 28% respectively. Renewable energy now accounts for 12.1% of global electricity generated.