Clean Energy Project Investments Mark Strong Quarter: Report
October 26, 2011
Global wind farms and solar installations led utility-scale renewable energy projects to a strong investment total of $41.8 billion in the third quarter of 2011, according to research company Bloomberg New Energy Finance. The United States saw big investments for photovoltaic, solar thermal, and biofuel projects.
Overall, new investment in clean energy grew 9% over the previous quarter, including asset finance, equity raisings on public markets, and investments from venture capital and private equity funds. According to Bloomberg New Energy Finance, the record quarter for financial new investment remains the fourth quarter of 2010, which tallied $51.5 billion.
Analysis by Bloomberg New Energy Finance, based on contract data, shows that the average price of photovoltaic modules has fallen by a third since autumn 2010 and by 70% since the middle of 2008, while wind turbine prices have fallen by 20% since 2009. These moves have made renewable energy technologies more cost-competitive with fossil-fuel power sources. See the Bloomberg New Energy Finance press release.