Global renewable energy investments are on the riseOctober 23, 2014
New report shows that clean energy investments grew during the third quarter of this year
Clean Energy Pipeline, an information service, has released a report highlighting global renewable energy investments. Throughout the world, countries are increasing their financial support of various forms of clean power. These countries are showing financial support for clean power for various reasons. Some see economic promise in the renewable energy space, while others are focus on the environmental benefits that clean power represents. For most, however, it is a combination of these two factors that is powering investment interest.
$64 billion invested in clean energy during the last quarter
According to the report, global renewable energy investments have jumped by 11% during the third quarter of this year. Approximately $64 billion has been invested in the clean energy sector during the third quarter, with China and Japan leading the way in investment growth. The report shows that these two countries accounted for 15% of the investments made in the clean energy sector during the third quarter. China and Japan are quickly becoming the most aggressive supporters of clean energy in terms of investments.
Solar power continues to receive strong investment support
Solar energy, in particular, has been seeing more attention from investors recently. Solar power has become one of the most widely supported forms of clean energy, with China investing $5.4 billion in its domestic solar sector in the third quarter. This form of clean energy holds a great deal of promise because of the falling costs of photovoltaic technology. As this technology becomes less expensive, it is becoming easier for businesses and consumers to adopt.
Financial aid is helping clean energy projects take form more quickly than they had in the past
As renewable energy investments continue to grow, new clean energy projects are being formed throughout the world. The financial aid that these projects are receiving is expediting their development, allowing them to begin producing electrical energy more quickly. The clean energy sector continues to rely heavily on financial support from the world’s governments, with the private sector playing a relatively small role in financial aid.