13 Apr '17, 10am

Clean Energy Investment Drops 17 Percent as China, US Scale Back

Clean Energy Investment Drops 17 Percent as China, US Scale Back

Clean-energy investment fell 17 percent in the first quarter, keeping pace with last year’s decline, as the U.S. and China both scaled back support for wind and solar farms. The $53.6 billion funneled into projects such as renewable energy, efficiency and electric cars during the first three months of the year marked the lowest investment for the quarter since 2013, according to Bloomberg New Energy Finance (BNEF). A surge in financing for large offshore wind projects at the start of last year wasn’t repeated in 2017. Governments in the biggest markets for renewables are slashing subsidies for new projects, reflecting a plunge in the cost of solar PV and wind turbines. At the same time, bright spots for the industry were marked by a $1.4 billion share sale by Tesla Inc. and $650 million for an Enel SpA solar project in Mexico that may be the biggest plant of its kind. Germ...

Full article: http://www.renewableenergyworld.com/articles/2017/04/clea...

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