A 39% slowdown in renewable energy investment in the world’s biggest market, China, meant that globally renewable energy investment fell by 14% to $117.6 billion, compared to the first half of 2018, according to Bloomberg New Energy Finance. However, multibillion-dollar projects were financed in two relatively new markets – a solar thermal and photovoltaic complex in Dubai, at 950MW and $4.2 billion, and two offshore wind arrays in the sea off Taiwan, at 640MW and 900MW. The UK saw investment rise.
BNEF’s figures for clean energy investment in the first half of 2019 show mixed fortunes for the world’s major markets. As well as China the two second largest markets also fell, the US down 6% at $23.6 billion and Europe down 4% at $22.2 billion.
In contrast, Japan rose 3%, India was up 10%, and Brazil saw investment rise by 19%.
In Europe, Spain was the star performer at $3.7 billion, up 235% on the same period a year earlier, while the Netherlands was 41% lower at $2.2 billion, Germany down 42% at $2.1 billion, the UK up 35% at $2.5 billion and France down 75% at $567 million. Sweden saw investment jump 212% to $2.5 billion, and the Ukraine 60% to $1.7 billion.