Developing countries are installing more renewable energy than their OECD counterparts, according to Bloomberg New Energy Finance’s (BNEF) 2017 European report. These nations, led by Chile and including India, Brazil, Rwanda and China, installed 114 GW of zero-carbon generating capacity in 2017, with 94 GW accounting for solar PV and wind. Around 28 GW of capacity has been added, priced as cheap as $18.90/MWh for solar and $17.70/MWh for wind. The report credits lower equipment costs, changing business models and suitable climate conditions. Development banks, credit agencies and other industry stakeholders ensuring capital flow have been crucial to facilitating the uptake in renewables.
Developing countries are installing more renewable energy than their OECD counterparts, according to Bloomberg New Energy Finance’s (BNEF) 2017 Climatescope report. These nations, led by Chile and including India, Brazil, Rwanda and China, installed 114 GW of zero-carbon generating capacity in 2017, with 94 GW accounting for solar PV and wind. Around 28 GW of capacity has been added, priced as cheap as $18.90/MWh for solar and $17.70/MWh for wind. The report credits lower equipment costs, changing business models and suitable climate conditions. Development banks, credit agencies and other industry stakeholders ensuring capital flow have been crucial to facilitating the uptake in renewables.