+- +-

+-User

Welcome, Guest.
Please login or register.
 
 
 
Forgot your password?

+-Stats ezBlock

Members
Total Members: 46
Latest: Tony Ryan
New This Month: 0
New This Week: 0
New Today: 0
Stats
Total Posts: 12560
Total Topics: 254
Most Online Today: 2
Most Online Ever: 137
(April 21, 2019, 04:54:01 am)
Users Online
Members: 0
Guests: 0
Total: 0

Author Topic: The Big Picture of Renewable Energy Growth  (Read 10676 times)

0 Members and 0 Guests are viewing this topic.

AGelbert

  • Administrator
  • Hero Member
  • *****
  • Posts: 26365
  • Location: Colchester, Vermont
    • Renwable Revolution
Re: The Big Picture of Renewable Energy Growth
« Reply #315 on: July 10, 2018, 04:18:19 pm »
CleanTechnica
Support CleanTechnica’s work via donations on Patreon or PayPal!

Or just go buy a cool t-shirt, cup, baby outfit, bag, or hoodie.

Global Clean Energy Investment On Par With 2017, Hits $138.2 Billion In First Half    
July 10th, 2018 by Joshua S Hill

Bloomberg New Energy Finance has published its latest clean energy investment figures for the first six months of 2018 which reached $138.2 billion, down only 1% on the same six months a year earlier in 2017, while investment in the second quarter actually increased compared to a year earlier.

However, the real takeaway from these latest figures is not so much the overall picture, but the mixture of highs and lows, because while the overall picture is healthy, investment in the solar industry fell while wind power and energy smart technologies increased.

In the overall, clean energy investment rebounded in the second quarter as compared to the first quarter of 2018. Figures published in April by Bloomberg New Energy Finance (BNEF) showed that the first quarter investment figures only hit $61.1 billion, down 10% on the previous quarter. The second quarter did much better, however, increasing year-over-year to $76.7 billion, thus helping bring the total for the first half of the year up to a respectable $138.2 billion, down only 1% on the same period a year earlier.

It was the sectoral picture, however, that is most important to look at. Solar investment was down 19% to $71.6 billion over the first half of 2018 as compared to the same half a year earlier. Meanwhile, wind investment was up 33% to $57.2 billion thanks to several mammoth large-scale project financing which were recorded in the first half of the year. These included the $1.5 billion taken in for the 731.5 megawatt (MW) Borssele 3 and 4 offshore wind farm in Dutch waters, $1 billion raised for the 478 MW Hale County onshore wind project in Texas, and $627 million for the 120 MW Formosa 1 project — which we have covered before and expands upon the first offshore wind farm in Taiwanese waters.

For the solar industry, however, BNEF analysts highlighted two main developments which caused the slippage in first-half investment figures — a drop in capital costs for solar PV projects, which therefore means fewer dollars are needed to build even more; and a drop-off in China’s solar installation boom, heralded by the country’s decision to cap solar installations.

“On June 1, the Chinese government released a policy document restricting new solar installations that require a national subsidy, with immediate effect,” explained Justin Wu, head of Asia-Pacific at BNEF. “We expect this to lead to sharp drop in installations in China this year, compared to 2017’s spectacular record of 53 [gigawatts (GW)].”

“It will also mean overcapacity in solar manufacturing globally, and yet steeper price falls,” added Pietro Radoia, senior solar analyst at BNEF. “Before the Chinese announcement, our team was already expecting a 27% fall in PV module prices this year. Now we have revised that to a 34% drop, to an end-2018 global average of 24.4 US cents per watt.”

Thus, while China invested $35.1 billion in solar in the first half of 2018, itself down 29%, that figure is expected to only fall further in the second half of the year.

However, looking back at the overall picture, it is not necessarily expected that the downturn in the solar industry’s investment figures will necessarily cause a similar downturn across the board. Beyond the growth in the wind energy sector, both offshore and onshore, smart technology industries such as electric vehicles and batteries are already running above levels seen in 2017, increasing by 64% to $5.2 billion.

https://cleantechnica.com/2018/07/10/global-clean-energy-investment-on-par-with-2017-hits-138-2-billion-in-first-half/
But that on the good ground are they, which in an honest and good heart,
having heard the word, keep it, and bring forth fruit with patience. -- Luke 8:15

 

+-Recent Topics

Doomstead Diner Daily by Surly1
July 15, 2019, 05:48:48 am

Apocalyptic Humor by AGelbert
July 14, 2019, 10:16:09 pm

Global Warming is WITH US by AGelbert
July 14, 2019, 09:24:56 pm

Homebody Handy Hints by AGelbert
July 14, 2019, 05:46:16 pm

Pollution by AGelbert
July 14, 2019, 05:06:46 pm

The Wisdom of the Books of the Bible by AGelbert
July 14, 2019, 03:49:18 pm

Key Historical Events ...THAT YOU MAY HAVE NEVER HEARD OF by AGelbert
July 13, 2019, 07:25:29 pm

Creeping Police State by AGelbert
July 12, 2019, 08:27:16 pm

Fossil Fuel Profits Getting Eaten Alive by Renewable Energy! by AGelbert
July 12, 2019, 06:14:29 pm

The Anti-Democratic Elite Fix Was IN From The Very Start of the USA by AGelbert
July 11, 2019, 11:10:37 pm