Frost & Sullivan estimates global renewables expansion at 155 GW in 2018
Post date: 02/10/2018 - 17:09
By the end of this year, the worldwide increase in generation capacity from renewable energies will amount to 154.6 GW, according to consulting firm Frost & Sullivan’s new »Global Renewable Energy Outlook«. PV accounts for almost 90 GW of the new capacity and wind for 53 GW.
The report estimates the investments made worldwide in renewable energy plants in 2018 at $228.3 billion. This represents growth of only 0.7 percent over the previous year, which Frost & Sullivan attributes mainly to the slower expansion of PV in China. The changes to the subsidy system there »dramatically changed the projections the renewable industry had for 2018 and the following years.« As more and more countries around the world are striving to limit the costs of their subsidy systems, »the market is compelled to consider purely commercial alternatives to feed-in tariffs, such as competitive auctions and private-sector power purchase agreements«.