Investment volumes around the world in renewable energy are for the first time higher than fossil-based energy sources, said a report by the Bloomberg New Energy Finance (BNEF) research institute.

The attractiveness of renewables as a long-term investment option is continuously growing, due to the current favourable prices for photovoltaic systems and wind turbines, it added.

Despite lower prices for fossil-based energy sources, investments in renewable energies enjoyed continuous growth between 2004 and 2015. In 2015, global investments in renewables reached an amount of $329 billion, overtaking fossil-based energies which attained a volume of $253 billion.

The reason for the surge in investments is the costs: Prices for photovoltaic modules have dropped since 2008 by around 80 per cent and for wind turbines by around 50 per cent. Large photovoltaic power stations are particularly competitive in the power range from 60 MW, with electricity generation costs between 0.05 and 0.08 USD/kWh.

Although prices for fossil-based energies also sank between 2014 and 2016, the G7’s decision in 2015 to decarbonize the energy sector in the G7 countries by 2050 will necessitate a realignment in the area of climate protection. Renewables are therefore a safe and sustainable investment option.

In line with this enhanced interest in renewable energies, Intersolar Europe, a leading specialist trade fair for the solar industry and its partners, is expecting to see around 40,000 visitors.

A total of 1,000 exhibitors will be presenting their innovations in renewable energy, grid integration, energy storage, intelligent energy consumption and energy management at Intersolar Europe 2016. The main focus will not only be on solar energy, but also on renewable energy supply as a complete system.

Intersolar Europe is the world's leading exhibition for the solar industry and its partners. It takes place June 22 to 24 at Messe München exhibition centre in Munich, Germany. – TradeArabia News Service