NewEnergyNews: China Policy Quakes Global New Energy

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    Friday, July 12, 2019

    China Policy Quakes Global New Energy

    Global Renewable Energy Investment Falls In Wake Of Chinese Policy Shift

    Dominic Dudley, July 10, 2019 (Forbes)

    "Renewable energy investment fell back in the first half of 2019, with a 14% drop in funding for clean energy schemes around the world compared to the same period last year…The total amount of financing from January to June was $117.6 billion, significantly below the record high of more than $160 billion seen in the second half of 2017…[The temporary fall in investment is thought to be] largely due to a change in approach by the Chinese government, which is in the middle of a move away from government-set tariffs to holding competitive auctions for new wind and solar capacity – an approach increasingly favoured by governments around the world as it leads to lower costs…

    …[A 39% drop in renewable energy investments to $28.8 billion in the first half of the year did not change China from] the world’s biggest market for renewable energy investment…[But it was] the lowest for any half-year period in China since 2013…China invested] almost $80 billion in the first half of 2017…Other major markets have seen mixed fortunes…[Dubai made a major investment in solar, China made some big investments in wind, but investment in the U.S. dropped by 6% year-on-year to $23.6 billion, while Europe saw a 4% fall to $22.2 billion…” click here for more

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