Solar energy makes strong progress in the UKOctober 17, 2013
Solar energy sees strong investment activity
Solar energy is attracting significant attention in the United Kingdom. A new report from Bloomberg New Energy Finance shows that investments in clean technology have been growing at a rapid pace and many of these investments have to do with solar energy. The report shows that investments in renewable energy throughout the world fell by 14% in the third quarter of 2013 from what it had been in the previous quarter. Solar energy, in particular, has proven to be resilient against this trend, however.
Investments are driving the solar sector forward
According to Bloomberg New Energy Finance, more than $2.6 billion in new investments have been made in the United Kingdom’s clean technology sector. Much of the funds coming into the sector are being funneled to solar energy projects that are taking root throughout the country. These funds are helping support various research and development projects as well as initiatives designed to demonstrate the capabilities of solar energy and its associated technologies.
Rising fuel prices cause concern
While investments may be on the rise in the United Kingdom, so are the costs associated with energy in general. Higher gas prices are beginning to apply financial strain to consumers and businesses alike and some are beginning to question whether rising fuel prices will have an impact on subsidies being provided by the UK government. According to Bloomberg New Energy Finance, gas prices in the United Kingdom have grown by 8%, but there is no clear indicator as to whether this will cause the government to cut subsidies in any way in order to save money.
Investments in clean technology down around the world
Solar energy has become a major focus for many countries interested in breaking away from fossil-fuels. Ongoing economic issues are, however, causing some countries to exercise caution when it comes to supporting renewable energy in any way. Investments in clean technology have dropped in China, the U.S., and the majority of Europe, but several countries remain interested in utilizing solar energy to the best of their ability.