January 2016

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According to data released yesterday by Bloomberg New Energy Finance, a record $329 billion was invested in clean energy worldwide in 2015. Last year was also the strongest ever for installations of renewable energy capacity, with 64 gigawatts of wind and 57 gigawatts of solar power commissioned. Given the relentless plunge in oil prices, now flirting with $30 a barrel, that seems counterintuitive: conventional wisdom says that cheap fossil fuels inhibit the growth of renewables.

Growth in renewable energy shows no signs of slowing, even though fossil fuel prices have plummeted. Here’s why. | MIT Technology Review

This is something we've argued for quite some time, especially for China (and market leader JKS there). A main driver in China is simply the air quality in most of it's cities, which threaten a middle class revolt. Also, the oil price within China is $40, not $30.