INVESTMENT I ANALYSIS
CLEAN ENERGY investment on the rise
Bloomburg New Energy Finance reveals that global clean energy investments maintain strong growth. Figures for the third quarter show another year-on-year rise, with a solar boom in China the biggest single contributor.
WORLD CLEAN ENERGY INVESTMENT in the first three quarters of this year was 16% ahead of the same period of 2013, at $175.1bn, making it almost certain that 2014 will produce a bounce-back in dollars invested after two years of decline. Figures published by Bloomberg New Energy Finance, based on its real-time data transactions and projects, show that clean energy investment in the July-to-September quarter was $55bn, up 12% from the $48.9bn achieved in Q3 2013. The third quarter is generally weaker than the second quarter, as it was this year, with the Q3 total 16% down on a strong $65.2bn in Q2 2014.
China continues to perform
The highlight of the third quarter was a leap in Chinese solar investment to a new record of $12.2bn, up from $7.5bn in Q3 2013 and $8bn in Q2 2014. China is building a large number of utility-scale photovoltaic projects linked to its main transmission
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grid, and Bloomberg New Energy Finance forecasts that its solar installations will total 13-14GW in 2014, nearly a third of the world total.
There were other strong investment figures in Q3 from Japan, at 8.6bn, up 17% from the same quarter in 2013, with solar again the dominant renewable energy source. Other countries showing a bounce in investment in the latest quarter were Canada, France and India, while there were significant projects financed in a number of new markets, including Myanmar and Sri Lanka.
Michael Liebreich, chairman of the advisory board at Bloomberg New Energy Finance, commented, “It is heartening to see investment heading for an up-year in 2014 after two down-years, thanks in large part to the greatly enhanced competitiveness of solar, and to some extent wind.
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