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Current state of renewable energy

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The United Nations and Bloomberg New Energy Finance recently published a report covering global trends in the renewable energy space for 2017

Here are some of their key findings:

– 2016 was a record year in terms of renewable power capacity installed worldwide. This includes wind, solar, biomass and waste-to-energy, geothermal, small hydro, and marine sources.

– The share of global electricity generated from renewable sources rose from 10.3% (2015) to 11.3% (2016).

– However, overall investment in renewables declined in 2016 for two main reasons. Costs went down (good news). And China and Japan exhibited a dramatic slowdown in terms of investment activity (bad news).

– Acquisitions of renewal assets, such as wind farms and solar parks, hit a new peak at $72.7 billion.

– A number of promising new pricing records set in 2016: $29.10 per MWh for solar in Chile and $30 per MWh for onshore wind in Morocco.

– In one year, the cost of solar generation dropped on average about 17% and onshore wind dropped about 18%.

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