Solar Panel Costs Drop, Fueling Rise In Renewable Energy

BERLIN — A dramatic drop in the price of solar power technology last year helped the continued growth of renewable energy, according to a U.N.-backed report published Wednesday.

Global energy-generating capacity from renewable sources rose by 115 gigawatts in 2012, compared with 105 gigawatts the previous year, the report by the Paris-based think tank REN21 showed.

Installed renewable energy capacity rose to over 1,470 gigawatts, equivalent to about 1,500 nuclear reactors. Two thirds of all renewable capacity still comes from hydropower, but wind and solar have been gaining. The worldwide capacity of photovoltaic cells, which convert sunshine into electricity, reached 100 gigawatts last year, the report said.

Written by Huffington Post. To read the full article, click here

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