In 2017, Germany spent less on renewables as prices fell, auction uncertainty weighs
As global new investment in renewable energies grew in 2017, Germany spent less on new renewable installations because the costs of offshore wind power have dropped, and the shift to auctions for onshore wind has created uncertainty, according to a report published by U.N. Environment, the Frankfurt School-UNEP Collaborating Centre and Bloomberg New Energy Finance. Germany spent 10.4 billion US dollars, 35 percent less than in 2016, but still the fifth largest amount globally on renewables behind China, the United States, Japan, and India. The data cover new investment commitments rather than the renewable capacity that started operating that year. Germany saw a record 5.3 gigawatts of new onshore wind capacity added to the grid in 2017. New solar PV installations climbed to about 1.7 gigawatts, from about 1.5 gigawatts in 2016.
Find the report and the press release in English here.
For background, read the CLEW dossier Germany’s energy consumption and power mix in charts.