According to a report performed by UNEP (United Nations Environment Programme), called ¨Global Trends in Renewable Energy Investment 2014¨ the share of sustainable energies in the energy mix is increasing every year despite of the reduction of investments, -14% in 2013 and -11% in 2012.
A worker checks to the alignment of a solar panel prior to installation. Picture from OregonDOT (Oregon Department of Transportation) (CC BY 2.0)
The report describes the fact that sustainable and renewable energies continue to gain market share in the global energy mix despite the economic and legal barriers imposed in some countries, but considers that, for this to continue, it is necessary to reassess priorities and models for the promotion of renewable energies. According to the report, some hopeful signs after several years of painful shake-out in the sector were:
- Lower costs
- A return to profitability on the part of some leading manufacturers
- The phenomenon of unsubsidized market uptake in a number of countries, and
- A warmer attitude to renewables among public market investors
2013 saw an interruption to the previously rising trend of renewable energy investment both in developing and developed economies as a whole. But, China kept a high amount of investment, 2013 was the first ever that China invested more in renewable energy than the whole of Europe. The Chinese total, although down 6% to $56 billion, finished well ahead of Europe’s shrunken $48 billion, down 44%. The US saw a fall of 10% to $36 billion, while India moved 15% down to $6 billion, and Brazil 54% down to $3 billion, the lowest since 2005.
While the dollar investment in solar capacity was down 23% at $104 billion worldwide, the Photovoltaic capacity installed was up from 31GW in 2012 to a record 39GW in 2013 due to the reduction of balance-of-plant costs of PV plants and PV module prices bottomed out as the industry’s severe over-capacity eased. Among all sustainable energies, geothermal was the only riser, investment in it gaining 38% to $2.5 billion worldwide.