According to data released on January 16 by research company Bloomberg (BNEF), financial support for offshore wind energy project installations has helped record investment in renewable energy capacity reach record highs in 2019. The organization said that global investment in renewable energy last year was US $ 282.2 billion, a year-on-year increase compared with US $ 280.2 billion in 2018, an increase of 1%. Financing of offshore wind power projects, especially in Europe and China, reached US $ 29.9 billion, an increase of 19% over the previous year and an increase of US $ 2 billion over the 2016 record high.
Projects in the United States include Dominion Energy’s proposed 2.64 GW Virginia offshore wind installation. A large project near Connecticut was also completed late last year. BNEF said other billion-dollar deals concluded in 2019 include projects in China’s and Taiwan’s coasts, as well as in the UK, France and the Netherlands.
Several transactions have been completed in the fourth quarter of 2019, including a 432 MW Neart na Gaoithe array off the coast of Scotland for $ 3.4 billion; the 376 MW Formosa II Miaoli project outside Taiwan is worth 2 billion US $; The installation cost of the 500MW Fuzhou Changle C Power Plant in the East China Sea was US $ 1.5 billion.
Saint Nazaire, France’s first 480 MW offshore wind power project, received $ 2.5 billion in funding in the third quarter of this year. Onshore and offshore wind power has led the world in renewable energy investment, reaching US $ 138.2 billion, a year-on-year increase of 6%. Compared to 2018, solar investment in 2019 fell by 3% to $ 113.1 billion. BNEF said that wind and solar power capacity will increase by approximately 180 GW in 2019, an increase of approximately 20 GW from 2018.
In 2019, the capacity investment for biomass and waste-to-energy projects was US $ 9.7 billion, an increase of 9%. However, geothermal companies only attracted $ 1 billion in investment, a 56% decrease year-on-year. Biofuels have fallen by 43% to about $ 500 million, while small hydropower has fallen by 3% to $ 1.7 billion.
China’s global investment in 2019 was US $ 83.4 billion, a decrease of 8% from 2018 and its lowest level since 2013. Chinese investment in wind power increased by 10% to $ 55 billion, but investment in solar power fell by a full third to $ 25.7. One billion. This level is less than one-third of China’s investment in solar power in the first year of 2017.
The United States is the second largest investor in renewable energy power generation, at US $ 55.5 billion, an increase of 28% over 2018. The report states that developers are eager to include the project on the board to qualify for a reduction in federal tax credits by 2020. .
It should be noted that during the third year of President Trump’s term, no special support was given to renewable energy, and U.S. investments in clean energy set a new national mileage record. These technologies are more expensive than ever Competitiveness, and the fact that tax credits are gradually decreasing will occupy the particularly busy market in 2019.
Europe lags behind the United States in 2019, with renewable energy investments at US $ 54.3 billion, down 7%. Spain ranks first among European countries with US $ 8.4 billion, an increase of 25% over the previous year, and is the country’s highest annual number since 2011.
The UK invested US $ 5.3 billion in 2019, a 40% decrease from 2018, the lowest level since 2007. Germany fell 30% to $ 4.4 billion, the lowest level since 2004, and Sweden fell 19% to $ 3.7 billion. However, the Netherlands increased by 25% to $ 5.5 billion. France increased by 3% to $ 4.4 billion and Ukraine increased by 56% to $ 3.4 billion.
Last year, Japan’s investment in renewable energy was US $ 16.5 billion, mainly solar energy, a 10% decrease from 2018. Australia committed $ 5.6 billion in investment, a 40% drop. India provided $ 9.3 billion in funding for renewable energy projects, down 14% year-on-year. The United Arab Emirates has invested a record $ 4.5 billion in almost all of its 950 MW solar thermal and photovoltaic complex in Dubai’s Al Maktoum IV.
Some Latin American countries increased their investments in 2019. Brazil increased by 74% to reach $ 6.5 billion. Even though the new President of Mexico has started to take energy reform measures, Mexico has promised to provide $ 4.3 billion, an increase of 17% year-over-year. Chile’s investment has grown to $ 4.9 billion. Funding in Argentina, however, fell 18% to $ 2 billion.
The BNEF also collects data on what it considers to be total investment in clean energy, including funds to support research and development, and data on the entry of professional enterprises through ” public market share, venture capital and private equity deals. The organization said total investment in 2019 was $ 363.3 billion, a slight increase from the $ 362.5 billion revised in 2018.
BNEF data shows public market investments in clean energy amounted to US $ 9.3 billion, down 13% from 2018, while venture and capital investors -investment invested 10.5 billion US dollars, an increase of 6% compared to 2018 and since 2010.. Proportion of US electric car companies According to BNEF data, the largest market in these two categories is due to the fact that Tesla issued $ 862.5 million on the public market, while the lesser-known Plymouth company, in Michigan, Rivian Automotive has made $ 1.3 billion in private equity financing.