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Solar power shines through

Solar energy was the world’s number one source of new electricity last year, according to a new report.

The ‘Power Attractiveness Index’ from GlobalData reveals that clean energy takes the top two spots. Solar was number one with 72 gigawatts (GW) of new capacity installed in 2016, with wind in second place at 53GW.

And China was named as the most ‘lucrative power market’. That reflects the country’s policy direction – especially in relation to clean energy – which includes a five-year plan to invest more than $300 billion in renewable power projects. The GlobalData Power Attractiveness Index (GPAI) lists India, America, Turkey, Germany and Brazil as other growth markets.

‘‘If the planned energy development programme is followed, solar, hydro, and wind power would be the biggest benefactors. They would also support China’s recently announced ambition to stop the production and sales of traditional energy vehicles in the coming decades,’’ said Ankit Mathur, Power Practice Head at GlobalData.

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