Bloomberg New Energy Finance (BNEF) has recorded the trillionth dollar of investment in renewable energy, energy efficiency and smart energy technologies since its records started in 2004.
According to BNEF, it is impossible to pinpoint with certainty the trillionth dollar of investment. However, the company says it is almost certain the investment took place during the last two weeks of November, probably somewhere in the developing world. Countries where clean energy investments were made during this period include Brazil, China, Mexico and Morocco. Annual clean energy investment has risen nearly five-fold, from $52 billion in 2004 to $243 billion last year, representing a compound annual growth rate of 29%. BNEF expects figures for this year to once again be in record territory, driven by funding for U.S. solar thermal projects, some large European offshore wind financings, continued high levels of activity in China and Germany, and developing national renewable energy programs in India. As capital costs for wind, solar, geothermal, marine, hydro and bioenergy continue to fall, and as smart energy technologies remake the world's grids, clean energy investment flows are expected to maintain their long-term rise, supported by a network of policies and initiatives around the world, BNEF adds.
According to BNEF, it is impossible to pinpoint with certainty the trillionth dollar of investment. However, the company says it is almost certain the investment took place during the last two weeks of November, probably somewhere in the developing world. Countries where clean energy investments were made during this period include Brazil, China, Mexico and Morocco. Annual clean energy investment has risen nearly five-fold, from $52 billion in 2004 to $243 billion last year, representing a compound annual growth rate of 29%. BNEF expects figures for this year to once again be in record territory, driven by funding for U.S. solar thermal projects, some large European offshore wind financings, continued high levels of activity in China and Germany, and developing national renewable energy programs in India. As capital costs for wind, solar, geothermal, marine, hydro and bioenergy continue to fall, and as smart energy technologies remake the world's grids, clean energy investment flows are expected to maintain their long-term rise, supported by a network of policies and initiatives around the world, BNEF adds.
