Antinuclear

Worldwide investment in wind farms, solar photovoltaics and other clean energy sources jumped 16 per cent last year to $US310 billion ($383 billion), or more than five times the tally of a decade earlier. Solar investments accounted for almost half the total.

China led the way, with investment soaring almost one-third to $US89.5 billion, while US investment gained 8 per cent to $US51.8 billion, and Brazil’s almost doubled to $US7.9 billion.

Australia, though, went the other way, with investment sinking 35 per cent to $US3.7 billion. BNEF said the amount was the “lowest since 2009, as wind and solar project developers delayed decisions while they awaited the government’s response to its Renewable Energy Target review”.

The Australian tally in fact masks a much steeper dive for large-scale renewable plants as small-scale solar PV largely held its own in 2014 even as state-based support schemes were wound back further.

“Four wind farms are currently under construction, but these signed contracts before the last RET review,” said Darren Gladman, the acting policy director for the Clean Energy Council.

“No more projects in the country have imminent construction plans.

“Australia is not just at risk of falling behind the rest of the world on renewable energy, we have already slipped off the back of the wave. We have some of the best sun, wind and waves in the world, but this new research shows that we are squandering some of our huge natural advantages.”

Fairfax Media sought comment from Industry Minister Ian Macfarlane, who has sought to cut the country’s renewable energy target from the current goal of 41 terawatt-hours annually by 2020 to as low as 27tWh.

So far, the Senate has blocked such a move but uncertainty over whether and when the goal will be reset has made it almost impossible to raise financing for new projects………..http://www.smh.com.au/business/renewable-investment-dives-in-australia-bucking-global-trend-20150109-12kqhk.html