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New quarterly data released by Bloomberg New Energy Finance (BNEF) shows that global investment in small-scale solar photovoltaic projects (with an installed capacity of less than 1 MW) reached US$14.
3 billion in the first quarter, an increase of 16%
year-on-year.
Global clean energy investment fell 10 percent year-on-year to $66.
1 billion in the first quarter, the report said.
Investment in small-scale solar projects under 1 MW performed well in the first quarter, up 16% year-on-year to $14.
3 billion, reversing the downward trend
in global solar investment, the report said.
In the first quarter, global solar investment was $37.
4 billion, down 19%
year-on-year.
The falling cost of solar PV continues to be one of the main reasons why the solar PV market is spending less, with BNEF analysis finding that the global dollar cost of capital per megawatt of large-scale solar is 7%
lower than a year ago.
So, despite the reduced investment, Jenny Chase, head of solar analysts at BNEF, believes that global solar installations will surpass last year's record 98 GW of new installed capacity
in 2018.
"Two of the main drivers are continued growth in China's financing of large solar parks in utility-scale and smaller local PV systems, as well as in other developing countries, as cost competitiveness continues to improve
," Chase said.
”
Data shows that China accounted for 40% of global renewable energy investment in the first quarter, leading the global market
.
U.
S.
clean energy investment rose 16 percent to $10.
7 billion, ranking second
.
Mexico's growing interest in new wind and solar power boosted its total investment in the first quarter by 3 percent to $1.
3 billion
.
However, in the solar and wind markets previously pioneered in Europe and Japan, the picture is different: European investment fell 17% to $6 billion, while Japan's investment of $1.
4 billion in the first quarter fell 54%
year-on-year.
Abraham Louw, clean energy investment analyst at BNEF, said: "Global Q1 figures are the lowest since Q3 2016, but it's too early
to predict an annual decline in investment this year.
For example, we expect a significant number of offshore wind projects in the UK, Belgium, Dutch and Danish waters to receive financing
in the coming months.
”
New quarterly data released by Bloomberg New Energy Finance (BNEF) shows that global investment in small-scale solar photovoltaic projects (with an installed capacity of less than 1 MW) reached US$14.
3 billion in the first quarter, an increase of 16%
year-on-year.
Global clean energy investment fell 10 percent year-on-year to $66.
1 billion in the first quarter, the report said.
Investment in small-scale solar projects under 1 MW performed well in the first quarter, up 16% year-on-year to $14.
3 billion, reversing the downward trend
in global solar investment, the report said.
In the first quarter, global solar investment was $37.
4 billion, down 19%
year-on-year.
The falling cost of solar PV continues to be one of the main reasons why the solar PV market is spending less, with BNEF analysis finding that the global dollar cost of capital per megawatt of large-scale solar is 7%
lower than a year ago.
So, despite the reduced investment, Jenny Chase, head of solar analysts at BNEF, believes that global solar installations will surpass last year's record 98 GW of new installed capacity
in 2018.
"Two of the main drivers are continued growth in China's financing of large solar parks in utility-scale and smaller local PV systems, as well as in other developing countries, as cost competitiveness continues to improve
," Chase said.
”
Data shows that China accounted for 40% of global renewable energy investment in the first quarter, leading the global market
.
U.
S.
clean energy investment rose 16 percent to $10.
7 billion, ranking second
.
Mexico's growing interest in new wind and solar power boosted its total investment in the first quarter by 3 percent to $1.
3 billion
.
However, in the solar and wind markets previously pioneered in Europe and Japan, the picture is different: European investment fell 17% to $6 billion, while Japan's investment of $1.
4 billion in the first quarter fell 54%
year-on-year.
Abraham Louw, clean energy investment analyst at BNEF, said: "Global Q1 figures are the lowest since Q3 2016, but it's too early
to predict an annual decline in investment this year.
For example, we expect a significant number of offshore wind projects in the UK, Belgium, Dutch and Danish waters to receive financing
in the coming months.
”
