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Solar Power Investment Outstripped Coal, Gas And Nuclear Combined In 2017
Key Excerpts from Article on Website of Forbes


Forbes, April 9, 2018
Posted: May 8th, 2018
https://www.forbes.com/sites/mikescott/2018/04/09/solar-powe...

More money was invested in solar power in 2017 than in coal, gas and nuclear power combined, according to a new report for the United Nations Environment Programme (UNEP). The report says that global investment in solar rose 18% to $160.8 billion, driven by the Chinese market, which was responsible for more than half of the worlds 98GW of new solar capacity. Solar power made up 57% of last years total for all renewables (excluding large hydro) of $279.8 billion, and it towered above new investment in coal and gas generation capacity, at an estimated $103 billion. Last year was the eighth in a row in which global investment in renewables, excluding large hydropower, exceeded $200 billion. The $2.7 trillion invested in clean energy from 2007 to 2017 have increased the proportion of electricity generated by wind, solar, biomass and waste-to-energy, geothermal, marine and small hydro globally to more than 12%, from 5.2% in 2007 ... and has avoided the emission of about 1.8 gigatonnes of CO2, about the same as is emitted by the entire US transportation system. UN Environment head Erik Solheim said that the extraordinary surge in solar investment shows how the global energy map is changing and, more importantly, what the economic benefits are of such a shift. Investments in renewables bring more people into the economy, they deliver more jobs, better quality jobs and better paid jobs. Clean energy also means less pollution, which means healthier, happier development.

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