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    Investment in India’s Clean Energy Dropped 20 per cent to $11 billion

    Global clean energy investments rose a marginal 3 per cent to $333.5 billion in 2017, led by China where investment in all clean energy technologies increased to $132.6 billion, up 24 per cent from 2016. However, clean energy investments in India dropped 20 per cent to $11 billion last year, according to BNEF.

    “After China, the next biggest investing country was the U.S., at $56.9 billion, up 1 per cent on 2016 despite the less-friendly tone towards renewables adopted by the Trump administration,” BNEF said in a statement released along with its report on annual figures based on its database of projects and deals. The report shows global investment in renewable energy and energy-smart technologies in 2017 was only 7 per cent short of the record figure of $360.3 billion reached in 2015.

    “The 2017 total is all the more remarkable when you consider that capital costs for the leading technology – solar – continue to fall sharply. Typical utility-scale PV systems were about 25% cheaper per megawatt last year than they were two years earlier,” Jon Moore, chief executive of BNEF.

    Solar investment globally amounted to $160.8 billion in 2017, up 18 per cent on the previous year despite these cost reductions. Just over half of that world total, or $86.5 billion, was spent in China. This was 58 per cent higher than in 2016, with an estimated 53 GW of PV capacity installed – up from 30 GW in 2016.

    Large wind and solar project financings pushed Australia up 150 per cent to a record $9 billion, and Mexico up 516 per cent to $6.2 billion. On the downside, Japan saw investment decline by 16 per cent in 2017, to $23.4 billion, while Germany slipped 26 per cent to $14.6 billion and the U.K. 56 per cent to $10.3 billion in the face of changes in policy support. Europe, as a whole, invested $57.4 billion, down 26 per cent year-on-year.

    The solar power sector led the way, attracting $160.8 billion – equivalent to 48 per cent of the global total for all of clean energy investment. The two biggest solar projects of all to get the go-ahead last year were both in the United Arab Emirates: the 1.2 GW Marubeni JinkoSolar and Adwea Sweihan plant, at $899 million, and the 800 MW Sheikh Mohammed Bin Rashid Al Maktoum III installation, at an estimated $968 million.

    Wind energy was the second-biggest sector for investment in 2017, at $107.2 billion. This was down 12% on 2016 levels but there were record-breaking projects financed both onshore and offshore, BNEF said. The third-biggest sector was energy-smart technologies, where asset finance of smart meters and battery storage, and equity-raising by specialist companies in smart grid, efficiency, storage and electric vehicles, reached $48.8 billion in 2017, up 7 per cent on 2016 and the highest ever. The clean energy investment total excludes hydro-electric projects of more than 50MW.

     

    ELE Times Research Desk
    ELE Times Research Deskhttps://www.eletimes.com
    ELE Times provides a comprehensive global coverage of Electronics, Technology and the Market. In addition to providing in depth articles, ELE Times attracts the industry’s largest, qualified and highly engaged audiences, who appreciate our timely, relevant content and popular formats. ELE Times helps you build awareness, drive traffic, communicate your offerings to right audience, generate leads and sell your products better.

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