BLOOMBERG REPORT SHOWS GLOBAL CLEAN ENERGY INVESTMENT HIT OVER $27 BILLION IN FIRST QUARTER OF 2010
An April report from Bloomberg New Energy Finance shows global new investments in clean energy hit US$27.3 billion in the first quarter of 2010.
The EERE press release on Bloomberg's findings notes that in spite of world-wide economic turbulence, new investments in clean energy continue to improve -- and in impressive fashion.
$27.3 billion is a sharp increase from $20.8bn in the same period of last year, though down from $31.6bn in the 4th quarter of 2009.
And this quarter's big investor is also the one which prevented 2009's global investments in clean energy from slipping further than expected: China and its whopping $6.5 billion in investments took its requisite lead.
The U.S. also saw marginal increases in their investments, rising from $2.4 to $3.5 billion. Global investment in wind farms worldwide was $14.1bn--hands down the biggest for any renewable energy sector.
In comparison, Europe showed a slowdown in new clean energy investments, down to $4 billion from 2009's 4th quarter of $6 billion and 2009's 1st quarter of $7.6 billion.
Michael Liebreich, CEO of Bloomberg New Energy Finance, comments that 2010's 1st quarter, “was not helped by the cold snap in the Northern Hemisphere, the traditional sluggish start to the year for stock market equity raising, and the time it is still taking to put together ‘clubs’ of banks for debt finance."
However, he also notes that in spite of uncertainty in variables like future feed-in tariffs in Germany and weak electricity prices, 2010's results so far are indicative of good things to come.
“We stick to our forecast that 2010 will see record overall new investment in clean energy. We expect the year’s total to end up between $175bn and $200bn, compared to last year’s $162bn," Liebreich says.
Learn more about Cleantech Investment on eBoom's Finance Learning Page.
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