Solar Is the Fastest-Growing Energy, Says Top Fossil Fuel Major

The world’s growing fleet of solar panels generated a third more electricity in 2015 than a year earlier, making power captured from the sun the world’s fastest growing source of energy, according to BP Plc.

Solar generation grew 33 percent, with China overtaking the U.S. and Germany as world leader in 2015, BP said in its 65th annual statistical review into world energy published on Wednesday. The London-based oil company exited from solar in 2011 after 40 yearsin the business.

“Sharp cost reductions have gone hand-in-hand with rapid growth in renewable energy. Solar power production has increased more than 60-fold in 10 years, doubling capacity every 20 months,” said Spencer Dale, BP chief economist, in a speech that also predicted continued falls in the costs of solar. Get a quote for a Solar rooftop system Read More…

Solar Is the Fastest-Growing Energy, Says Top Fossil Fuel Major