Renewable Energy World Statistics 2017 – Spain, Sweden, Ukraine and Brazil attracted more funds than last year, while China’s auction-based buying and weak performance in Europe lost global support. However, BloombergNEF expects investment to pick up in the second half.
BNEF data includes financing for renewable energy capacity and firm-level investments in renewable energy and smart energy technologies, excluding new hydropower projects.
Investment in renewable energy fell in January-July. The increase was largely due to a step back from last year’s performance in China, the world’s largest renewable energy market.
Bloomberg New Energy Finance, analyzing the performance of renewable energy investments in the first six months of the year, reported a 39 percent decline in Chinese investment to $28.8 billion. This deflation reduced global figures by 14% to $117.6 billion.
BloombergNEF said China’s pullback was due to a shift from state subsidies to auctions. Solar and wind investments also suffered in the first half of the year, and Bloomberg joined a list of analysts predicting a recovery in China for the rest of 2019, now that Beijing officials have announced a new rate parity. solar energy policy
Justin Wu, head of BNEF Asia-Pacific region, said: “We are currently expecting the national solar auction to lead to a new flow of financing for PV projects. We may also see some big deals in offshore wind in the second half.”
The six-month decline in global clean energy investment came despite the financial closure of multibillion-dollar projects, including the $4.2 billion Al Maktoum IV solar PV and CSP park with a total generating capacity of 950 MW. Two offshore wind farms in Taiwan with production capacities of 640 MW and 900 MW and a total cost of $5.7 billion have completed their investment phases.
Jenny Chase, BNEF’s head of solar analysis, said: “Al Maktoum IV combines three different solar – thermal and solar thermal technologies – with traditional photovoltaics, but it is a powerful signal in the business. The Middle East is about solar energy on behalf of international investors.”
Both of the world’s largest renewables markets suffered as China saw clean energy investment shrink in the first months of the year due to political uncertainty. Investments in the United States and Europe fell 6% and 4%, respectively, and both totaled between $22 billion and $23 billion.
However, costs have increased in secondary markets. Japan, for example, earned $8.7 billion in the first half, up 3%. Investments in India rose 10% to $5.9 billion as it aims to install 175 GW of renewable energy generation capacity by 2022.
Spain led the global European trend in renewables financing, rising 235% to $3.7 billion in the first half, while Sweden rose 212% to $2.5 billion. The UK also saw an increase in investment, raising $2.5 billion for a 35% advance. Ukraine also rose 60% to $1.7 billion.
On the downside, France’s investment in renewables fell 75% to $567 million in the first half, while Germany’s fell 42% to $2.1 billion. The Netherlands’ performance followed that of Germany, with renewable energy investment down 41% to $2.2 billion.
BNEF reported that global financing for public renewable energy projects fell 24% to $85.6 billion, with growth largely attributable to China. In contrast, investments in small-scale systems with less than 1 MW of generating capacity increased by 32% to $23.7 billion.
In addition to investments in manufacturing assets, BloombergNEF saw a 37 percent increase in its backing of clean energy companies in the public markets to $5.6 billion. The number included a second round of $863 million for Tesla and a $650 million convertible bond fund from Chinese electric car maker NIO.
“Clean energy venture capital and private equity financing fell 2% to $4.7 billion in the first half of 2019,” the report’s authors said. However, this resulted in three exceptions. Swedish battery maker Northvolt has received a $1 billion investment, as has US electric vehicle charging company Lucid Motors. Electric car maker Citizen Rivian also invested $700 million.
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Covering news on power electronics, starters and inverters, Marian writes for the International, Australian and German online editions of pv magazine. He is also the editor of an international print magazine and organizes webinars and events.
The cookie settings on this website are set to “allow cookies” to provide the best browsing experience. If you continue to use this website without changing your browser settings or click the “Accept” button below, you agree to this. Energy has been the main driver of global economic growth, industrialization and modernization since the dawn of civilization. With the rapid growth of industrial activity and population growth in the 18th, 19th and 20th centuries, dependence on fossil fuels became widespread throughout the world. This dominance of non-renewable energy sources in the global energy sector has created a major threat to the environment. Experts around the world predict that if current trends in energy demand continue in the coming years, non-renewable energy sources will eventually run out. Therefore, the ever-increasing demand for energy has led to a global energy crisis. In addition, the heavy dependence on fossil fuels has increased the need to switch to renewable energy sources without delay.
Using renewable energy as the primary energy source can solve the global energy crisis and meet the world’s enormous energy demand. On the other hand, it can reduce carbon emissions and other harmful emissions, thereby significantly reducing the problem of greenhouse gas emissions and global warming. In addition, renewable or green energy will play an important role in decarbonizing our current energy system in the coming years.
In recent years, much progress has been made in cleaner alternative energy sources and renewable energy technologies are being developed. However, how much renewable energy is produced today? Is the energy produced sufficient for future generations? Learn about the current state of renewable and clean energy sources and technologies in this article. This article focuses on current global renewable energy data, including general statistics on solar energy, wind energy, geothermal energy, hydroelectricity, biomass energy, and tidal energy.
In recent years, renewable energy has become the fastest growing global energy source. In many parts of the world, various renewable energy sources, especially wind, hydro, and solar, are used for large-scale power generation. The International Renewable Energy Agency (IRENA) estimates that different forms of renewable energy will provide 86% of the world’s primary energy by 2050 (IRENA, 2019).
In 2019, renewable energy accounted for approximately 11% of global primary energy, which is expected to increase significantly in the coming years (Ritchie and Roser, 2020). In 2020, demand for renewable energy increased by 3 percent. According to the International Energy Agency (IEA), the use of renewable and alternative energy sources will increase by 7 percent in 2021 (IEA, 2020).
As shown in Figure 1 below, the world’s largest source of renewable energy is hydroelectricity. According to a study by the US Energy Information Administration (EIA), hydropower accounted for only 71% of electricity generated from renewable sources in 2015 (EIA, 2017). However, among the various forms of renewable energy, wind and solar technologies have grown the fastest over the past two decades. The report shows that the rate of growth is so high that global renewable energy capacity increased by 45% in 2020 alone, the highest annual rate of addition since 1999 (IEA, 2020). It is also estimated that 270 gigawatts (GW) of renewable energy capacity could be added by 2021 if current trends continue. By 2020, global wind power capacity will double to 114 GW. Experts even predict that wind power capacity will continue to set new records and exceed a total of 160 GW by 2022 (IEA, 2021a).
Global energy demand is expected to grow by 4.6% in 2021. Despite the spread of the COVID-19 pandemic and its subsequent impact on the global energy market and economy, renewable energy demand increased and expanded by more than 8% in 2021. renewable energy technologies are expected to reach new heights in the coming years (IEA). , 2021b). Solar panel and wind energy technologies are expected to contribute two-thirds of the total growth in the renewable energy sector. Additionally, by the end of 2021, renewable energy will account for 30% of global electricity generation. Overall, the EIA estimates that renewable energy sources will account for more than 31% of global electricity generation (EIA, 2017). New heights of extraordinary development
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