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Clean Energy heads for second successive annual fall

London, 14 October 2013

Global investment in clean energy was $45.9bn in the third quarter of 2013, down 14% on the second quarter of this year and 20% below the number for Q3 2012, according to the latest data on deals and projects compiled by research company Bloomberg New Energy Finance. The latest figure makes it almost certain that investment in renewable energy and energy-smart technologies such as smart grid, efficiency, storage and electric vehicles will end this year below 2012's $281bn - a total that was itself 11% down from the record established in 2011.

Among the major countries, overall clean energy investment showed declines in most:

  • The US saw its total fall to $5.5bn in Q3 from $9.4bn in Q2
  • China was down at $13bn from $13.8bn
  • India was at $1.2bn down from $1.5bn
  • Japan was $7.3bn down from $7.4bn
  • Brazil showed a modest rise, from $950m to $1.1bn

In Europe:

  • German investment was $1.6bn, down from $1.7bn in Q2 and far below the quarterly figures seen in recent years
  • France saw a fall from $1.2bn in Q2 to $727m in Q3
  • Italy a modest rebound to $1.3bn from $1.2bn
  • The UK saw a somewhat bigger rally from $1.6bn to $2.6bn.

Michael Liebreich, chief executive of Bloomberg New Energy Finance, commented: "After the slightly more promising second quarter, we now have a very disappointing third quarter figure for investment. $45.9bn is still a substantial amount of money, greater than that invested in the whole of 2004, but the loss of momentum since 2011 is worrying.

"The latest setback reflects policy uncertainty in Europe, the lure of cheap gas in the US, a levelling-off in wind and solar investment in China, and a general weakening of political will in major economies. Governments accept that the world has a major problem with climate change but, for the moment, appear too engrossed in short-term domestic issues to take the decisive action needed."

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