LONDON and NEW YORK — World clean energy investment increased strongly in 2014, jumping 16 percent, boosted by demand for large-scale and rooftop solar photovoltaic (PV) systems on the back of its greatly improved competitiveness, and by the financing of a record $19.4 billion of offshore wind projects.
According to data published by Bloomberg New Energy Finance, global investment in clean energy was $310 billion last year. This was up 16 percent from a revised $268.1 billion in 2013, and more than five times the figure of $60.2 billion attained a decade earlier, in 2004.
The jump in investment in 2014 reflected strong performances in many of the main centers for clean energy deployment, with China up 32 percent to a record $89.5 billion, the United States up 8 percent to $51.8 billion (its highest figure since 2012), Japan up 12 percent to $41.3 billion, Canada up 26 percent at $9 billion, and Brazil up 88 percent at $7.9 billion. Europe, despite the flurry in offshore wind, edged up just 1 percent higher to $66 billion.
Michael Liebreich, chairman of the advisory board for Bloomberg New Energy Finance, said, “Throughout last year, we were predicting that global investment would bounce back at least 10 percent in 2014, but these figures have exceeded our expectations. Solar was the biggest single contributor, thanks to the huge improvements in its cost-competitiveness over the last five years.”
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Publication date: 1/26/2015