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Clean power is up, costs are down
By Roger Harrabin BBC environment analyst
April 6, 2017
The cost of ofishore wind energy installations has
tumbled over the past three years
Investment in renewables capacity was roughly double that in fossil fuels, says the report from United Nations Environment. It follows news that the cost of offshore wind power has fallen by around a third since 2012 – far faster than expected. But the report’s authors sound the alarm that just as costs are plunging, some major nations are scaling back their green energy investments. This, they say, reduces the likelihood of meeting the Paris climate agreement.
The report is published in conjunction with Frankfurt School-UNEP Collaborating Centre and Bloomberg New Energy Finance. Ulf Moslener, a co-author, told BBC News: “Things are heading the right way, and the learning and technical costs of renewables have done a large part of their job. But investments are not yet there to meet the structural change agreed in Paris.”
The report finds that wind, solar and other renewables added 138.5 gigawatts to global power capacity in 2016 – up 8% from 2015. The added capacity roughly equals that of the world’s 16 largest existing power producing facilities combined, it says. Recent figures from the International Energy Agency cited the switch to renewables as one main reason for greenhouse gas emissions staying flat in 2016 even though the global economy grew by 3.1 per cent.Image
Some countries have cut back on their spending
on renewables
Globally new investment in solar and wind fell from 2015. Much of the finance drop was due to reduced costs, but countries are also needing less electricity than projected as economies switch towards services, use more LEDs and governments impose standards making appliances like fridges and air-conditioners more efficient. Some nations are also taking the opportunity to scale back ambition on energy investment.
(http://www.bbc.com/news/science-environment-39513339. Adaptado)
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