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New clean energy investments dipped last year but show promise in coming years
Energy - NOVEMBER 25, 2019

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New clean energy investments dipped last year but show promise in coming years

by Kali Persall

According to an annual survey conducted by Bloomberg New Energy Finance (BNEF), new clean energy investments fell by more than a fifth in developing countries last year, as reported by Reuters.

Investments in clean energy sources such as wind, solar and other projects dipped to $133 billion last year, from $169 billion the year prior. This was mainly attributed to a slowdown in Chinese investments, which dropped from $122 billion in 2017 to $86 billion last year. Lower costs for solar and wind also pulled down investments by India and Brazil.

At the same time, coal-fired power rose to a new high of 6,900 terrawatt hours last year, up from 6,400 the year before.

However, BNEF also found that by 2050, wind and solar will make up almost 50 percent of the world’s electricity. The renewables are now the cheapest across more than two-thirds of the world. By 2030 they are expected to undercut commissioned coal and gas almost everywhere.

“The transit

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