Globally, investment in renewable energy declined for the second consecutive year in 2013 according to REN21. The world total still amounted to an an impressive $214 billion but this was down 12 percent on 2012 and 23 percent on 2011.
Why? Declining technology costs are one reason – solar PV installations in particular experienced considerable cost declines and efficiency improvements. Uncertainty regarding incentive policies in Europe and the United States has proven another major factor in the investment slump.
To illustrate the severity of both the uncertaintly and reductions in support, China put more money into renewable energy projects than the whole of Europe combined. In fact, European investment was down 44 percent on 2012.
The closing gap between developed and developing nations in interesting to note. Investment reached $122 billion in developed countries in 2013 while developing nations are making major progres in the push to go green, investing an impressive $93 billion.
View original article at: Global Renewable Energy Investment Declined For the Second Consecutive Year in 2013