Wind blows for clean energy

Wind blows for clean energy

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While global clean energy spend totalled an impressive $332bn last year, that figure was down 8% on 2017. And that was because of declining capital costs for solar technology, as a surplus of panels hit the market, according to Bloomberg New Energy Finance.

The consultancy reports that the cost of installing a megawatt of photovoltaic capacity fell 12% in 2018 as manufacturers slashed selling prices.

However, wind investment rose 3% to $129bn, with offshore having a good year.

“The balance of activity in offshore is tilting,” says David Hostert, head of wind analysis at BNEF. “Countries such as the UK and Germany pioneered this industry and will remain important, but China is taking over as the biggest market and new locations such as Taiwan and the US East Coast are seeing strong interest from developers.”

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