Global solar power investment up 52% in 2011 – Australia has great opportunity
If you go back two or three years ago, solar was very much a potential technology. Now it’s a reality, and grid parity is rapidly approaching.”
“Solar resources in Australia are huge and world-leading… The case for solar makes a lot of sense in Australia.”
Global investment in solar power jumped 52% in 2011: Report Startup Smart, By Michelle Hammond, 13 June 2012 Global investment in the renewable energy sector surged by 17% to a record $257 billion in 2011, a new report reveals, while total investment in solar power jumped by a whopping 52%.
Global Trends in Renewable Energy Investment 2012 is the fifth edition
of the United Nations Environment Programme report. It’s based on data
from Bloomberg New Energy Finance.
The report reveals global investment in the renewable energy sector
hit another record in 2011, up 17% to $257 billion.
According to United Nations Under-Secretary General Achim Steiner, the
executive director of UNEP, this was a six-fold increase on the 2004
figure and 93% higher than the total in 2007………… One of the
dominant features of the renewable energy sector in 2011 was falling
technology costs, the report said…..
According to the report, the performance of solar owed most to
“booming” rooftop PV installations in Germany and Italy, as property
owners took advantage of falling panel prices.
Small-scale projects attracted $76 billion of investment worldwide in
2011, up a quarter from the $60 billion spent in 2010, despite falling
prices for PV panels.
In addition to Italy and Germany, Australia, Japan, the United States,
the United Kingdom and France also saw significant investment in
small-scale PV.
Tim Buckley, managing director of Australian green investment firm
Arkx, expects investment in solar power to continue, partly because
the cost of solar is dropping dramatically.
“One of the key changes in solar globally is it’s gone from being very
focused on Germany and Italy to being a more global phenomenon,”
Buckley says.
“If you go back two or three years ago, solar was very much a potential technology. Now it’s a reality, and grid parity is rapidly approaching.”
“Solar resources in Australia are huge and world-leading… The case for solar makes a lot of sense in Australia.” http://www.startupsmart.com.au/funding/global-investment-in-solar-power-jumped-52-in-2011-report/201206136586.html
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