Clean energy investment remains level on 2014 levels
Worldwide clean energy investment has remained level for Q2 2015 compared to a year earlier.
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.
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."
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.