SOLAR LEADS WORLD NEW ENERGY INVESTMENT

Solar Power Leads As Investment In Renewables Reaches Record Highs

12 June 2012 (Solar Industry)

“Solar generation surged past wind power to become the renewable energy technology of choice for global investors in 2011, according to two new reports from the United Nations Environment Programme (UNEP) and [The REN21 Renewables 2012 Global Status Report]…Solar attracted nearly twice as much investment as did wind, driving the renewable energy sector to yet another record-breaking year. However, challenges abound for all types of renewable energy…

“The UNEP report shows that despite an increasingly tough competitive landscape for manufacturers, total investment in renewable power and fuels last year increased by 17% to a record $257 billion - a six-fold increase on the 2004 figure and 94% higher than the total in 2007, the year before the world financial crisis…Although last year's 17% increase was significantly smaller than the 37% growth recorded in 2010, it was achieved at a time of rapidly falling prices for renewable energy equipment and severe pressure on fiscal budgets in the developed world.”

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“Renewable power, excluding large hydropower, accounted for 44% of all new generating capacity added worldwide in 2011 - up from 34% in 2010. This accounted for 31% of actual new power generated, due to lower capacity factors for solar and wind capacity…[S]olar PV capacity moved rapidly into new regions and countries, and solar hot water collectors are used by more than 200 million households as well as in many public and commercial buildings worldwide.

“Total investment in solar power jumped 52% to $147 billion, led by booming rooftop photovoltaic installations in Italy and Germany. The rapid spread of small-scale PV to countries such as China and the U.K., as well as significant investments in large-scale concentrating solar power projects in Spain and the U.S., also helped investments grow…The U.S. surged back to within an inch of the top of the renewables investment rankings, with a 57% leap to $51 billion…After leading the world for two years, China saw its lead over the U.S. shrink to just $1 billion in 2011, as it recorded renewable energy investment of $52 billion, up 17%...”

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