Renewable energy loses steam as Asian subsidies wane

Capacity growth slows, and coronavirus risks disrupting supply chains

20200424N wind turbines (REUTERS)

A wind farm near Amsterdam: Renewable energy could become one of the losers from the coronavirus. © Reuters

SHUHEI OCHIAI and KANOKO SAKAMOTO, Nikkei staff writers

TOKYO -- Global capacity for renewable energy ended 17 years of growth in 2019, as Asian governments scaled back expensive subsidies designed to make their power grids greener.

The trend could continue in 2020 as the coronavirus outbreak forces factory shutdowns for producers of the necessary equipment, delaying future green power projects and slowing the international shift away from fossil fuels.

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