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Baltimore-based alternative and clean energy company. Certified MBE for energy consulting, energy management information systems, and renewable energy facility production.

Blog

Global solar capacity grew faster than fossil fuels in 2017

Bithgroup Technologies

IN THE NEWS: For the first time in 2017, global solar capacity grew faster than all fossil fuels combined, including coal, oil and gas-fired power stations.

That’s one finding of the latest annual report on global trends in renewable energy finance, from the UN Environment Programme (UNEP) and Bloomberg New Energy Finance (BNEF).

It shows renewables, excluding large hydro, made up three-fifths of net power capacity growth in 2017 and supplied a record 12% share of global electricity generation.

Global renewable investment held steady, with falling costs ensuring the same money bought record levels of new capacity. Within that, developing nations, led by China, claimed an ever-larger share of the total as investment fell steeply in several European countries. Click to learn more...