Wind Financing Decline Starts Renewable Energy Investment Slide
Investment in renewable energy fell 20 percent from a year ago in the third quarter as wind farm financings dropped and the pace of spending eased in the U.S. and India, Bloomberg New Energy Finance said.
The $56.6 billion injected into clean energy projects in the third quarter was down 5 percent from the second quarter and indicates that investment may fall for the first time in eight years when figures for the whole of 2012 are tallied, the London-based researcher said in a statement today.
The industry is suffering from excess capacity that’s driven down prices for solar panels and wind turbines, meaning developers pay less to install each megawatt of capacity. Governments are paring support for the industry across the U.S., India and Europe after a record $280 billion was invested in clean and low-carbon technologies in 2011.
“The location of some of the biggest projects financed in quarter three this year highlight the geographical shift that is taking place in clean energy, with established markets such as the U.S., Europe and China losing momentum while newer markets in South America, Asia and Africa pick up steam,” said Michael Liebreich, chief executive officer of New Energy Finance.
Spending in the U.S. was $7.3 billion, down 28 percent from the previous quarter and 62 percent on the same period last year. Investment in India also slid 16 percent from the second quarter and 60 percent from a year ago. Brazil showed a 94 percent increase to $1.9 billion from the three months ended in June and a 24 percent boost from the same quarter a year ago.
Investment in solar power reached $33.8 billion, more than double the $15.5 billion invested in wind in the third quarter.
Developers in Morocco were granted the go-ahead for a 160-megawatt solar thermal plant costing $1.2 billion and a 300-megawatt wind farm for $563 billion. In Brazil, they won consent for a 258-megawatt plan for wind projects costing $497 billion. The largest financing was from a group of 22 small hydroelectric projects totaling 980 megawatts in Ukraine, according to data collected by New Energy Finance.
[...] original here: Wind Financing Decline Starts Renewable Energy Investment Slide … Share and [...]
Asking questions are in fact nice thing if you are not understanding anything completely,
except this piece of writing offers pleasant understanding yet.
First of all I would like to say terrific blog! I had a quick question that
I’d like to ask if you do not mind. I was curious to find out how you center yourself and clear your head before writing. I have had a difficult time clearing my thoughts in getting my thoughts out. I truly do take pleasure in writing but it just seems like the first 10 to 15 minutes tend to be wasted just trying to figure out how to begin. Any suggestions or hints? Thank you!
This is a topic that is near to my heart..
. Cheers! Where are your contact details though?
Thanks for another informative web site. The place else may I am getting that type of info written in such a
perfect method? I have a mission that I’m just now operating on, and I’ve been
on the look out for such information.
[...] one of top 20 universities for renewable energy usagenttc.wsWhat You Can Do To Save The EarthWind Financing Decline Starts Renewable Energy Investment SlideWind Financing Decline Starts Renewable Energy Investment [...]
I found plenty of useful information on this blog.
This blog is faultless. I’m amazed.
Magnificent! Keep leading this blog.
It is so pleasurable to read this.