The World's #1 Renewable Energy Network for News, Information, and Companies.

Renewable Energy Investment Falls 20 Percent as Wind Financings Decline

Renewable Energy Investment Falls 20 Percent as Wind Financings Decline

Investment in renewable energy fell 20 percent from a year ago in the third quarter as wind farm financings dropped and the pace of spending eased in the U.S. and India, Bloomberg New Energy Finance said.

The $56.6 billion injected into clean energy projects in the third quarter was down 5 percent from the second quarter and indicates that investment may fall for the first time in eight years when figures for the whole of 2012 are tallied, the London-based researcher said in a statement today.

The industry is suffering from excess capacity that’s driven down prices for solar panels and wind turbines, meaning developers pay less to install each megawatt of capacity. Governments are paring support for the industry across the U.S., India and Europe after a record $280 billion was invested in clean and low-carbon technologies in 2011.

“The location of some of the biggest projects financed in quarter three this year highlight the geographical shift that is taking place in clean energy, with established markets such as the U.S., Europe and China losing momentum while newer markets in South America, Asia and Africa pick up steam,” said Michael Liebreich, chief executive officer of New Energy Finance.

Spending in the U.S. was $7.3 billion, down 28 percent from the previous quarter and 62 percent on the same period last year. Investment in India also slid 16 percent from the second quarter and 60 percent from a year ago. Brazil showed a 94 percent increase to $1.9 billion from the three months ended in June and a 24 percent boost from the same quarter a year ago.

Investment in solar power reached $33.8 billion, more than double the $15.5 billion invested in wind in the third quarter.

Developers in Morocco were granted the go-ahead for a 160- megawatt solar thermal plant costing $1.2 billion and a 300- megawatt wind farm for $563 billion. In Brazil, they won consent for a 258-megawatt plan for wind projects costing $497 billion. The largest financing was from a group of 22 small hydroelectric projects totaling 980 megawatts in Ukraine, according to data collected by New Energy Finance.

Copyright 2012 Bloomberg

Lead image: Business growth via Shutterstock


Egypt flag

Egypt's Renewable Energy Drive Gains Steam

Andrew Burger, Correspondent There's a lot of action in Egypt's rapidly developing solar and renewable energy market space. Nearly 5 GW worth of solar power development agreements have been signed so far this year, while Egypt 's New and Renewable Ene...

Elon Musk Says Utilities Shouldn’t Fear His Battery Systems

Mark Chediak and Dana Hull, Bloomberg

Elon Musk, chief executive officer of Tesla Motors Inc., told electric utility owners they shouldn’t fear that his battery systems will put them out of business -- instead, they should buy them.


India's Seabiscuit: How Solar Energy Can Be the Symbol of Hope for Electricity Woes

Aditya Goel, Ornate Solar For those unfamiliar with the story of the horse that Hollywood made famous, Seabiscuit was a small horse who had an inauspicious start to his racing career. History though, remembers Seabiscuit not for his diminutive...
Tesla batteries

Advanced Microgrid to Buy Tesla Batteries for Storage Projects

Justin Doom, Bloomberg Advanced Microgrid Solutions, a provider of energy-storage systems, agreed to buy as much as 500 megawatt-hours of battery capacity from Tesla Motors Inc.


Volume 18, Issue 3


To register for our free
e-Newsletters, subscribe today:



GRC Fieldtrip - Long Valley Geology

Led by Gene Suemnicht and Duncan Foley In May of 1980, a strong earthqua...

GRC Workshop - Practical Aspects and Applications of Geochemistry

Stuart SimmonsEGI, University of Paul Hirtz...

GRC Workshop - Drilling and Risk Management

Patrick HansonScientific Drilling Inc. patrick.hanson@scientific...


DIY: Don’t Install Yourself

You finally made the choice to go solar. Seems like it might be pretty e...

Five Reasons to Go Solar Now

Solar’s popularity has skyrocketed recently, thanks to a price dro...

Complexity Avalanche

One of the challenges we face in the efficiency industry is how to conve...


Tweet the Editors! @megcichon @jennrunyon


Renewable Energy: Subscribe Now

Solar Energy: Subscribe Now

Wind Energy: Subscribe Now

Geothermal Energy: Subscribe Now

Bioenergy: Subscribe Now