Climate Changed
China’s Solar ‘Wobble’ Drags Down Global Growth, BNEF Says
- Analysts lower global outlook 6% as China’s boom fell flat
- Weak demand has added downward pressure on panel prices
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Slumping solar development in China is hobbling growth worldwide.
While worldwide installations are still forecast to rise this year, BloombergNEF lowered its global outlook 6% from its previous forecast as an anticipated building boom hasn’t materialized in China, the world’s biggest clean-energy market, according to a report Monday. BNEF now expects 121 gigawatts of solar to be installed globally.