Solar Money in China Drives World Renewable Investment to Record
- China accounts for almost half of $358 billion spent
- US investments on solar soar while wind projects struggle
Solar panels on the rooftop of an office building in Xi'an, China.
Source: Bloomberg
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The world is spending more money than ever in renewable energy, most of it on solar power in China, according to a report from BloombergNEF.
China accounted for about half of a record $358 billion global investment in renewable energy in the first half of this year, thanks to cheaper modules, a robust rooftop PV market and the commissioning of energy megabase projects, according to the report. The US was a distant second.