Clean energy investment in the second quarter of 2016 reached $61.5 billion, according to Bloomberg New Energy Finance.
According to new figures from Bloomberg New Energy Finance (BNEF), the amount of clean energy investment reached $61.5 billion in the second quarter — up slightly by 12% on Q1’16, but down significantly by 32% on the same quarter a year earlier. In fact, according to BNEF, taking the first two quarters of 2016 together, global investment in the first half of the year has so far reached $116.4 billion, down 23% on the opening six months of 2015.
“It is now looking almost certain that the global investment total for this year will fail to match 2015’s runaway record,” said Michael Liebreich, chairman of the advisory board at Bloomberg New Energy Finance. “China’s financing of wind and solar projects was even higher last year than previously estimated, and the hangover this year caused by weak electricity demand and policy changes in that country will therefore be all the greater.”
More specifically, apart from a slight uptick in Europe and a more significant increase in Brazil, all other regions saw clean energy investment drop.
Europe’s total clean energy investment for the first half of 2016 was $33.5 billion, up 4%, and Brazil saw $3.7 billion, up an impressive 36%.
China saw investment drop 34% to $33.7 billion, India dropped 1% to $3.8 billion, and the rest of Asia Pacific dropped 47% to $12.1 billion. The Middle East and Africa region took in investments of $4.2 billion, down 46%, the US took in $23.1 billion, down 5%, and the Americas excluding the US and Brazil dropped 63% to $2.3 billion.
With 2016 investment figures seemingly on the low side, BNEF further confirmed the discrepancy by revealing that 2015 investment figures had actually been revised upwards, from the previously estimated $328.9 billion up to $348.5 billion.
Further specifics of the climate investment figures for the first half of the year can be found here.
Don't want to miss a cleantech story? Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!
Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.