Antinuclear

Australian news, and some related international items

Australia’s renewable energy investment at record lows, but global investment rising

Global clean energy investment up, Australia at record lows, http://www.perthnow.com.au/business/breaking-news/global-clean-energy-investment-up-australia-at-record-lows/story-fnn9c0ha-1227081338024 Perth Now  STAFF REPORTER OCTOBER 06, 2014 World clean energy investment in the first three quarters of this year was 16% ahead of the same period of 2013, at $US175.1bn , making it almost certain that 2014 will produce a bounce-back in dollars invested after two years of decline.

Figures published today by Bloomberg New Energy Finance, based on its real-time data transactions and projects, show that clean energy investment in the July-to-September quarter was $US55bn, up 12% from the $US48.9bn achieved in Q3 2013. The third quarter is generally weaker than the second quarter, as it was this year, with the Q3 total 16% down on a strong $US65.2bn in Q2 2014.

Meanwhile, BNEF says Australia’s has continued its dismal 2014 in the most recent quarter. Only $A193m was invested in new large-scale renewable energy projects in the calendar third quarter of 2014 in Australia, bringing year-to-date investment to $A238m. The Q3 figure is down 78% on the $A861m invested in the same quarter last year.

BNEF said of the the seven projects financed this year, none were backed by non-government lenders.
“The severe downturn in investment – and total freeze in private investment – has been caused by the Abbott government’s review of the Renewable Energy Target. Its controversial review panel recommended scrapping the target or radically diminishing it in August, but the government is yet to announce its position and faces blockage in the Senate to changes,” BNEF said.

Meanwhile, back on the international scene, the highlight of the global third quarter was a leap in Chinese solar investment to a new record of $US12.2bn, up from $US7.5bn in Q3 2013 and $US8bn in Q2 2014. China is building a large number of utility-scale photovoltaic projects linked to its main transmission grid, and Bloomberg New Energy Finance forecasts that its solar installations will total 13-14GW in 2014, nearly a third of the world total.

There were other strong investment figures in Q3 from Japan, at 8.6bn, up 17% from the same quarter in 2013, with solar again the dominant renewable energy source. Other countries showing a bounce in investment in the latest quarter were Canada, France and India, while there were significant projects financed in a number of new markets, including Myanmar and Sri Lanka.

Michael Liebreich, chairman of the advisory board at Bloomberg New Energy Finance, commented: “It is heartening to see investment heading for an up-year in 2014 after two down-years, thanks in large part to the greatly enhanced competitiveness of solar, and to some extent wind.

“However, there is no room for complacency because clean energy investment of between $US200bn and $US300bn a year is not large enough to herald the rapid transformation of the power system that experts say is required if the world is to see a peak in CO2 emissions around 2020. There is still too much policy instability holding back investor confidence.”

The Q3 2014 figures showed global asset finance for clean energy projects such as wind farms, solar parks and geothermal plants reaching $US33.3bn, up slightly from $US32.8bn in the third quarter of last year. Investment in small-scale projects such as rooftop solar was $US18.3bn, up from $US13.9bn a year earlier, while equity capital raised by specialist clean energy companies on the public markets was $US2.7bn, up from $US2bn in Q3 2013. Venture capital and private equity investment was $US918m in Q3 2014, up from a multi-year low of $US592m in the same quarter of 2013………Meanwhile, back on the international scene, the highlight of the global third quarter was a leap in Chinese solar investment to a new record of $US12.2bn, up from $US7.5bn in Q3 2013 and $US8bn in Q2 2014. China is building a large number of utility-scale photovoltaic projects linked to its main transmission grid, and Bloomberg New Energy Finance forecasts that its solar installations will total 13-14GW in 2014, nearly a third of the world total.

There were other strong investment figures in Q3 from Japan, at 8.6bn, up 17% from the same quarter in 2013, with solar again the dominant renewable energy source. Other countries showing a bounce in investment in the latest quarter were Canada, France and India, while there were significant projects financed in a number of new markets, including Myanmar and Sri Lanka.

Michael Liebreich, chairman of the advisory board at Bloomberg New Energy Finance, commented: “It is heartening to see investment heading for an up-year in 2014 after two down-years, thanks in large part to the greatly enhanced competitiveness of solar, and to some extent wind.

“However, there is no room for complacency because clean energy investment of between $US200bn and $US300bn a year is not large enough to herald the rapid transformation of the power system that experts say is required if the world is to see a peak in CO2 emissions around 2020. There is still too much policy instability holding back investor confidence.”

The Q3 2014 figures showed global asset finance for clean energy projects such as wind farms, solar parks and geothermal plants reaching $US33.3bn, up slightly from $US32.8bn in the third quarter of last year. Investment in small-scale projects such as rooftop solar was $US18.3bn, up from $US13.9bn a year earlier, while equity capital raised by specialist clean energy companies on the public markets was $US2.7bn, up from $US2bn in Q3 2013. Venture capital and private equity investment was $US918m in Q3 2014, up from a multi-year low of $US592m in the same quarter of 2013.

 

October 8, 2014 - Posted by | General News

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