Monday 9 July 2018

Global clean energy investment shot to $132.2bn in first half of 2018

Global clean energy investment shot to $132.2bn in first half of 2018

International investment in clean energy in the first six months of 2018 totalled $138.2 billion (£104.3bn).

That's according to data company Bloomberg New Energy Finance (BNEF), which shows this was down just 1% from the same period a year earlier.

The second quarter, from April to June, saw a year-on-year rise of 8% to $76.7 billion (£57.9bn). driven by investment from the US and China.

However, solar investment was down 19% compared to the same period last year at $71.6 billion (£54bn), with wind up 33% at $57.2 billion (£43.2bn).

The fall in solar investment reflects significantly lower capital costs for the technology, resulting in fewer dollars spent per megawatt installed, as well as a cooling-off in China’s solar boom.

BNEF analysts expect these trends to continue through the remainder of the year.

Justin Wu, Head of Asia-Pacific at BNEF, said: “On June 1st, the Chinese government released a policy document restricting new solar installations that require a national subsidy, with immediate effect.

"We expect this to lead to sharp drop in installations in China this year, compared to 2017’s spectacular record of 53GW."

Written by

Bruna Pinhoni

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