Clean energy investment remains level on 2014 levels

According to figures released today (July 10) by Bloomberg New Energy Finance, investment in clean energy was remained at $73.5bn from $73.6bn a year earlier.

The figures took half year investments to $127.9bn, down slightly (3%) on 2014.

2014 saw clean energy investment reaching record levels, totalling $321bn, but 2015 is falling short of matching them.

Solar projects presented a ray of sunshine with small-scale solar investment up to $20.4bn, an increase of 29% on Q2 2014. The cost-effectiveness of rooftop solar was proving popular, with projects of less than 1MW set for a record year.

European offshore wind also proved a success for investment, with the German 402MW Veja Mate array and the 400MW Rampion project off the coast of Britain boosting investment to $4.2bn.

Costs down

Bloomberg New Energy Finance advisory board chair Michael Leibreich said: “In the medium term we expect investment to resume its strong growth. Our New Energy Outlook 2015, published in June, forecast that two thirds of the $12.2trn investment in generating capacity globally between now and 2040 will be in renewables, as costs per MWh for solar and wind grind downwards.”

Small-scale surge

Bloomberg New Energy Finance’s global power report last month predicted a surge in global solar investment by 2040, with a shift towards localised renewable power sources with rooftop and small commercial solar. The New Energy Outlook report predicted a $3.7trn surge in renewable technology with as much as $2.2trn going towards small-scale solar installations.

The report also predicted that a growth in energy efficient technologies should see power demand in developed countries lower in 2040 than in 2014.

*This article was amended 14 July due to corrected figures from Bloomberg New Energy Finance. The original figures had stated Q2 clean energy investment was down 28% on 2014.

Matt Field