Renewables markets expand to 19% of new global generation.

Guardian: “The global deployment of renewable energy from wind, solar and biofuels grew in 2012 but the income from the sector remained flat due to the plummeting costs for solar photovoltaic panels.” “The revenue for the three technologies increased by 1% globally to $249bn in 2012, according to the Clean Energy Trends 2013 report released on Tuesday. “We always knew each doubling of [solar PV] installation would reduce prices about 18%,” the Clean Edge founder, Ron Pernick, told the Guardian. Pernick said that prices were falling because the sector was expanding rapidly, doubling every one to two years. New solar PV installations expanded to 31GW in 2012, while revenues decreased by $12bn – or 19% – to $80bn. ….Solar costs have already fallen from $7.50 per watt to $2.50 and are projected to reach $1.50 within five years, equivalent to between 5 and 12 US cents per kilowatt hour. “$1.50 really is the holy grail,” said Pernick ….Overall, renewable energy increased its market share of new energy investments from 1.1% in 2001 to 19% in 2012. Global wind capacity increased by 45GW, with take-up in the US surpassing natural gas investment. In total, renewable energy made up 49% of all new generating capacity in the US.”