• New cleaner generation is needed to meet climate targets accepted globally
• More stringent regulatory requirements for a low-carbon future will force companies everywhere to make significant changes in their business models
• In the power sector, which has the least complicated path to decarbonisation, average investment costs in solar power have fallen between 40% and 80% since 2010
• The renewable energy technologies have now earned a firm place in the investment landscape as a main strategy for many investors looking to diversify early and become part of the future value chain
• Asia-Pacific market is emerging as one of the top targets for investment houses, utilities and funds with a global focus in the renewable energy space.
- o In the coming years the stage is all set for the Asia-Pacific region, along with the Middle East, to host the world’s most interesting deals in renewable energy.
• Total global renewable power capacity increased to almost 2,017 GW by the end of 2016, representing a growth of nearly 9% as compared to 2015
• Globally, more renewable power capacity was added in 2016 than the combined power capacity added from all other fossil fuels, combined
- o In 2016, renewables accounted for an estimated nearly 62% of net additions to global power generating capacity.
- o Solar PV observed record additions andaccounted for more additional capacity, net of decommissioning, than any other power generating technology.
• Solar PV represented about 47% of newly installed renewable power capacity in 2016, and wind and hydropower contributed nearly 34% and 15.5%, respectively.