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16% rise in renewable energy investment in third quarter

Clean-Energy Investment Rises Annual 16% in Quarter, BNEF Says, Bloombeerg, By Marc Roca – Oct 13, 2011  New investment in clean energy rose 16 percent in the third quarter to $45.4 billion, aided by a surge in wind and solar plant financing as low equipment costs drive installations, Bloomberg New Energy Finance said.Asset financing of utility-scale renewable-energy projects jumped to a record $41.8 billion in the quarter, the London- based research company said today in a statement…..

Investment was driven by a drop in solar panel and wind turbine costs combined with sustained support from governments looking to reduce carbon emissions.

“Over the past three years we have seen extraordinary falls in the prices of clean energy equipment,” Michael Liebreich, BNEF’s chief executive officer, said in the statement. “This has driven up installation rates and asset investment levels. However, there is still not enough demand to soak up significant oversupply, so prices and margins have remained under pressure and manufacturers’ share prices are being crushed.”

The prices for solar modules have fallen by a third since a year ago and wind turbine prices have tumbled 20 percent since 2009, BNEF data show.

Asset financing was dominated by large deals for solar thermal, photovoltaic and biofuels in the U.S., as well as $6.3 billion for three offshore wind projects in Europe. Investment in onshore wind plants in China and Brazil was also strong, it said….

http://www.bloomberg.com/news/2011-10-13/clean-energy-investment-rises-annual-16-in-quarter-bnef-says.html

October 16, 2011 - Posted by Christina Macpherson | general