in News Departments > New & Noteworthy
print the content item



Global investment in clean energy was $53.1 billion in the second quarter of this year (Q2) - up 22% from the first quarter, finds a new report from Bloomberg New Energy Finance (BNEF).The report attributes the quarterly rebound to an upturn in the financing of wind and solar projects and a 170% surge in equity funding for specialist companies on public markets.

Leading the Q2 increase were the U.S., China and South Africa. The report says the U.S. saw investment jump 155% compared to a weak first quarter and reached $9.5 billion, China rose 63% to $13.8 billion and South Africa was up from almost nothing in Q1 to $2.8 billion.

However, the report notes that Europe, for many years the mainstay of clean energy activity worldwide, saw investment fall 44% compared to Q1, reaching just $9.5 billion.

BNEF says this represents the continent’s lowest quarter total for more than six years, and the downturn in Europe helped ensure that global investment in clean energy in Q2 ended up 16% below the figure for the second quarter of last year.

“These figures are a mixture of sweet and sour,” comments Michael Liebreich, chief executive of BNEF. “On the sour side, 2013 globally is still running below 2012, which was itself down on the 2011 investment record. And European investment is clearly being hit by cuts in support for renewable energy and by policy uncertainty, notably ahead of the German election in September.

“On the sweet side, the U.S. is back in business following the hiatus that resulted from fears about the possible expiry of the production tax fredit for wind at the end of 2012,” Liebreich continues.

Financing of utility-scale projects such as solar parks and wind farms represented the biggest category of investment between April and June, BNEF says. This was $31.9 billion in Q2, up 39% on the first quarter but down 21% year-over-year. Among the projects financed were MidAmerican Renewables’ 681 MW Solar Star photovoltaic project in California, at $2.5 billion; and EDF’s 299 MW Blackspring Ridge wind farm phase one in Alberta, Canada, at $588 million.




Trachte Inc._id1770
Latest Top Stories

Despite 2013 Challenges, U.S. Wind Power Reaches All-Time Low Price

In a new report, the U.S. Department of Energy details the highs and lows of the country's wind industry last year, and the agency maintains that the U.S. sector remains strong.


Mexico On Pace To Set New Renewables Investment Record

A new report says the country has spent $1.3 billion on clean energy in the first half of 2014 and could end up seeing a record year. Furthermore, wind power is slated for significant growth in the region.


IRS Issues More PTC Guidance, Easing Some Wind Industry Concerns

The Internal Revenue Service (IRS) addresses how much work is needed on a wind farm to satisfy production tax credit (PTC) eligibility.


Embryonic No More: U.S. Offshore Wind Industry Gaining Momentum

After a decade of fits and starts, the industry is moving closer to installing the first generation of wind projects off the country's shores.


AWEA: U.S. Installs 853 MW Of Wind In First Half Of 2014

The American Wind Energy Association (AWEA) reveals the U.S. industry's progress thus far this year and underscores the importance of policy certainty.

Renewable NRG_id1934
Canwea_id1984
Tower Conference_id1965