The world added enough renewable energy capacity to power every house in the UK, Germany, France and Italy combined last year, according to a new report. The record figure of 161 gigawatts cost about £187bn, but this was a staggering 23 per cent cheaper than it would have cost in the previous year.
And, in a further sign of the tumbling price of low-carbon electricity, Denmark, Egypt, India, Mexico, Peru and the United Arab Emirates are all now receiving supplies at less than five US cents (about 4p) per kilowatt-hour, “well below” fossil fuels and nuclear.
The Renewables 2017 Global Status Report, published by international renewable body Ren21, found solar panels made up nearly half, 47 per cent, of the extra capacity added, followed by wind on 34 per cent and hydro-electric schemes on 15.5 per cent.
In a statement, Ren21 said: “Renewables are becoming the least cost option. Recent deals in Denmark, Egypt, …
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