Intelligent Living
Environment Sustainability

Global Clean Energy Investment Soars Beyond $300 Billion Five Years In A Row Now

Research company Bloomberg New Energy Finance (BNEF) published its annual and authoritative global clean energy investment figures which reveal that the total global clean energy investment in 2018 came to a relatively impressive $332.1 billion, though this was down 7% on the $361.7 billion taken in during 2017. That made it a record five years in a row that clean energy investment exceeded $300 billion.

Here are the specific new global investment figures for previous years:

  • $61.7 billion in 2004
  • $88 billion in 2005
  • $129.2 billion in 2006
  • $182.2 billion in 2007
  • $205.2 billion in 2008
  • $206.8 billion in 2009
  • $276.1 billion in 2010
  • $324 billion in 2011
  • $290.7 billion in 2012
  • $268.6 billion in 2013
  • $321.3 billion in 2014
  • $360.3 billion in 2015
  • $330.1 billion in 2016
  • $361.7 billion in 2017
  • $332.1 billion in 2018

Of the growing variety of green energy options, there was a vast majority of those technologies that saw an increase in investment in 2018. They include:

Smaller technologies such as…

  • Biomass and waste-to-energy increased by 18% to $6.3 billion;
  • Biofuels increased by 47% to $3 billion;
  • Geothermal increased by 10% to $1.8 billion;
  • Marine investment increased by 16% to $180 million;

Larger technologies such as…

  • Wind investment increased by 3% representing an increase of 14% for offshore wind with $25.7 billion and a 2% increase for onshore wind which saw investments total $100.8 billion. Some of the biggest wind projects financed in 2018 were the 950 megawatt (MW) Moray Firth East array in the North Sea at an estimated $3.3 billion, the 706 MW Enel Green Power South Africa portfolio of onshore wind farms at an estimated $1.4 billion, and the 600 MW Xcel Rush Creek installation in the United States at $1 billion. And in the making are 13 Chinese offshore wind farms starting construction in 2018 at an estimated value of $11.4 billion.

David Hostert, head of wind analysis at BNEF explained:

“The balance of activity in offshore is tilting. Countries such as the U.K. and Germany pioneered this industry and will remain important, but China is taking over as the biggest market and new locations such as Taiwan and the U.S. East Coast are seeing strong interest from developers.”

Hydro and Solar, on the other hand, dropped. Jenny Chase, head of solar analysis at BNEF explained:

“2018 was certainly a difficult year for many solar manufacturers, and for developers in China. However, we estimate that global PV installations increased from 99 GW in 2017 to approximately 109 GW in 2018, as other countries took advantage of the technology’s fiercely improved competitiveness.”

And Jon Moore, chief executive of BNEF added:

“Once again, the actions of China are playing a major role in the dynamics of the energy transition, helping to drive down solar costs, grow the offshore wind and EV markets, and lift venture capital and private equity investment.”

Here are the total country-specific clean energy investment figures for 2018:

  • China at $100.1 billion, down 32%
  • The United States at $64.2 billion, up 12%
  • Europe at $74.5 billion, up 27%
  • Japan at $27.2 billion, down 16%
  • India at $11.1 billion, down 21%
  • Germany at $10.5 billion, down 32%
  • The U.K. at $10.4 billion, up 1%
  • Australia at $9.5 billion, up 6%
  • Spain at $7.8 billion, up sevenfold
  • The Netherlands at $5.6 billion, up 60%
  • Sweden at $5.5 billion, up 37%
  • France at $5.3 billion, up 7%
  • South Korea at $5 billion, up 74%
  • South Africa at $4.2 billion, up 40-fold
  • Mexico at $3.8 billion, down 38%
  • Vietnam at $3.3 billion, up 18-fold
  • Denmark at $3.2 billion, up fivefold
  • Belgium at $2.9 billion, up fourfold
  • Italy at $2.8 billion, up 11%
  • Morocco at $2.8 billion, up 13-fold
  • Taiwan at $2.4 billion, up 134%
  • Ukraine at $2.4 billion, up 15-fold
  • Canada at $2.2 billion, down 34%
  • Turkey at $2.2 billion, down 5%
  • Norway at $2 billion, no change

Sustainability is on the right path. Clean energy investment figures continue to show strong growth, which is a very good sign for our planet and for us. As long as things keep going down this road we’ll have a clean future to look forward to.

Related Articles

A Bermed Home Is Extremely Energy Efficient And They Don’t All Look Like A Hobbit House

Andrea D. Steffen

Startup Uses Particle Acceleration to Make Solar Panels Cheaper

Joseph Kennedy

Scientist Accidentally Found Plastic Eating Caterpillars When They Ate Her Bag

Andrea D. Steffen

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More