Solar investment to skyrocket 11.5% in 2017 Image: Think stock Solar power will be the fastest growing renewable energy source in 2017, accounting for 37.5% of global investment.
It says continued regulatory support for renewable energy will see global power investment reach $443.5 billion (£343.9bn) this year as the market transitions to more decentralised and intelligent energy systems.
That’s according to a new report from consultancy Frost & Sullivan, which forecasts spending on the technology will rise by 11.5% to hit $141.6 billion (£109.8bn).
China is expected to be the largest market in terms of revenue investment but Frost and Sullivan believes the fastest growth will come from India, which could see double-digit growth in investment.
The firm believes increased decentralisation, the decarbonisation of electricity and digitisation to boost operational efficiency are driving opportunities in the sector.
E.ON Looks to U.K. for New Solar and Storage Operations
E.ON Solar and Storage will be installing solar and energy storage systems for both existing E.ON customers and non-E.ON customers.
German based energy supply company, E.ON is looking to move into the U.K. and enter the energy storage and solar energy markets.
E.ON Solar and Storage represents yet another E.ON initiative to promote renewable energy solutions in Europe.
Success in the U.K. solar and storage markets could further solidify the great progress E.ON has made globally in this industry.
E.ON has said that these solar and storage technologies have the potential to reduce customers energy costs by up to 30%.
1 spot on the top 10 list of new storage megawatts installed, adding 30 MW of storage in 2016.
On the new lists, utilities in North Carolina and Georgia took four spots on the top 10 for solar megawatts added, while utilities in Illinois, Indiana and Ohio took three spots on the top 10 for storage megawatts.
In terms of the most new megawatts of solar added in 2016, Southern California Edison (SCE) ranked No.
As for energy storage, Imperial Irrigation District (IID), a public power and water utility in Southern California, took the No.
Every year, the Smart Electric Power Alliance (SEPA) crowns the top U.S. utilities for solar, and with the release of its 10th annual utility market survey, the group has now launched additional rankings for the utilities leading on energy storage.