New installed solar blows the doors all other new energy

Renewable installations in 2016 accounted for two-thirds of all new energy. Solar PV accounted for 43% of that. Worldwide, new coal and natural gas plants are lagging way behind new renewable energy.

Solar PV is entering a new era. For the next five years, solar PV represents the largest annual capacity additions for renewables, well above wind and hydro. This marks a turning point and underpins our more optimistic solar PV forecast which is revised up by over one-third compared to last year’s report. This revision is driven by continuous technology cost reductions and unprecedented market dynamics in China as a consequence of policy changes.