China helped drive a record year for solar power generation in 2017, as it was responsible for 98 GW of the 53 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.
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.