UNEP: 638GW of solar capacity installed worldwide in past 10 years

first_img FacebookTwitterLinkedInEmailPrint分享PV Tech:Solar PV has seen a “meteoric rise” over the past decade, with more capacity installed than any other power source, according to a new report by BloombergNEF and the United Nations Environment Programme (UNEP).Over the last ten years, 638GW of solar PV was installed globally – a dramatic turn of events for a power source only boasting 25GW at the close of 2009. Solar reaped more capacity investment than any other renewable technology over the decade, at US$1.3 trillion. That’s half of the overall US$2.6 trillion invested in renewables – excluding large hydro – over the same period.Solar’s ascendancy has been accompanied by a “precipitous drop” of the levelised cost of the technology, the report notes. The cost of solar technology has tumbled 81% over ten years, from US$304 to US$57 per MWh.Over the decade, China has sunk US$758 billion into renewables capacity, followed by the US (US$356 billion) and Japan (US$202 billion). Europe has invested US$698 billion in total, with Germany and the UK leading the pack at US$179 billion and US$122 billion respectively.Renewables now account for 26.3% of all electricity produced, or 12.9% if large hydro is excluded.In 2018, solar deployments accounted for more than half of total renewables additions (excluding large-scale hydro), at 108GW of an overall 167GW. The technology also attracted the most investment, at US$133.5 billion. Investment in renewables capacity was roughly three times larger than global investment in coal and gas-fired power in 2018.More: UNEP: Solar the star of a decade of ‘incredible’ renewables momentum UNEP: 638GW of solar capacity installed worldwide in past 10 yearslast_img read more