Report from UNEP-Frankfurt School analyses why investment fell last year, and identifies a number of encouraging signs for the future
London and New York, 7 April 2014 – Global Trends in Renewable Energy Investment 2014 is the seventh edition of the United Nations Environment Programme (UNEP) report. Based on data from Bloomberg New Energy Finance, it has become the world’s foremost reference document on renewable energy investment, and for the examination of trends by region, country, sector and investment type.
The report, commissioned by the Frankfurt School-UNEP Collaborating Centre, can be downloaded from http://fs-unep-centre.org/publications/gtr-2014
The 84-page document is packed full of information on the deals, issues and policy moves that lay behind the 14% fall in world renewable energy investment to $214bn in 2013. Including no fewer than 60 charts, it finds that although investment in new capacity was down, renewable power excluding large hydro increased its share of total world electricity generation from 7.8% to 8.5%. The report explores the contrast between venture capital and private equity investment, which fell to its lowest level since 2005 last year, and public market investment, which trebled from 2012 levels, helped by the 54% upswing in clean energy share prices during 2013.
There is also a special chapter entitled “Towards cost-competitive clean energy”, which examines how the costs of generation from photovoltaics and onshore wind have fallen in recent years and how some projects are now being built in specific locations without subsidy support.
The Global Trends report uses figures for renewable energy investment. These differ from Bloomberg New Energy Finance’s clean energy investment total published earlier this year, because clean energy includes not only renewables but also energy smart technologies such as smart grid, efficiency, advanced transportation and power storage.
Bloomberg New Energy Finance plans to publish statistics for clean energy investment in the first quarter of 2014 in the coming days.