Clean Energy Investment Jumps 16% Shaking off Oil's Drop

Monday 12 January 2015

New funds for wind, solar, biofuels and other low-carbon energy technologies gained 16 percent to $310 billion last year, according to Bloomberg New Energy Finance. It was the first growth since 2011, erasing the impact of lower solar-panel prices and falling subsides in the U.S. and Europe that hurt the industry in previous years.

The industry benefited from a number of trends that will be challenging to replicate this year. Funding surged because of a 32 percent expansion in China’s commitment to renewables, as well as a record $19.4 billion committed to offshore wind projects that were years in the making. Money also flowed into electric cars, especially for Tesla Motors Inc., just before cheaper gasoline prices reduced forecasts for that segment.

“Healthy investment in clean energy may surprise some commentators, who have been predicting trouble for renewables as a result of the oil price collapse,” said Michael Liebreich, chairman of the advisory board of the London-based researcher. “Our answer is that 2014 was too early to see any noticeable effect on investment. The impact of cheaper crude will be felt much more in road transport than in electricity generation.”

For more on this article please see Bloomberg New Energy Finance at www.bnef.com

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