Demand for Solar Power Led Clean Energy Investment to Rise 9%: Bloomberg

published: 2014-04-17 16:35 | editor: | category: News

Due to the surging demand for rooftop solar panels from the U.S. to Japan, investment in clean energy rose by 9% in the first quarter comparing to the same period in 2013, says Bloomberg.

Bloomberg New Energy Finance (BNEF) indicated in an e-mailed statement that new investment in renewable power and energy efficiency rose to $47.7 billion in the first three months of the year from $43.6 billion. Investment in green industries peaked at US $318 million in 2011 and has fallen for the following two years. This increase may mark a turnaround.

Michael Liebreich, Chairman at BNEF, introduces two patterns in the statement: the increasing share of small-scale solar in total investment, and the expansion of investment into more developing countries.

“It is too early to say definitively that 2013 was the low point for clean-energy investment worldwide and that 2014 will show a rebound but the first-quarter numbers are encouraging,” said Liebreich.

Spending on new solar capacity rose 23% to $27.5 billion, including $21.2 billion for small-scale projects of less than 1 MW, according to BNEF. Besides, Wind power expenditure dropped 16% to $13.9 billion and biofuels fell 28% to $664 million. Although new investment in the first quarter in 2014 is slightly lower than the fourth quarter of 2013, it is still optimistic as projects usually are being completed at the end of a year.

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