Clean energy investment was US$61.1bn in Q1 2018, down 10% year-on-year, however there were pockets of strength. Developing countries were prominent in clean energy investment in the first three months of 2018, with China once again accounting for more than 40% of the world total, along with eye-catching projects reaching financial close in Morocco, Vietnam, Indonesia and Mexico.
The latest quarterly figures from Bloomberg New Energy Finance (BNEF) show global clean energy investment at US$61.1bn in Q1 2018, down 10% on the same period last year. The quarter to the end of March saw solar investment slip 19% to US$37.4bn, affected both by weaker activity in some markets and by lower unit prices for PV systems. BNEF estimates that benchmark global dollar capital costs per MW for utility-scale solar PV have fallen 7% in the last year.
BNEF expects the world to install even more solar in 2018 than last year’s record of 98 GW. Two of the main drivers are the ongoing boom in China for both utility-scale and smaller, local PV systems, and the financing of very large solar parks in other developing countries as cost-competitiveness continues to improve.Read more…
Article published in: FuturENERGY April 2018