Bloomberg New Energy Finance, BNEF (a consulting division of Bloomberg, which specializes in the global energy market data), published a report in July 2016 on the level of investment in the renewable energy sector over the first half of the year.
According to the report, clean energy received 61.5 billion US dollars of investment in the second quarter of 2016, which is about 12% more than in the first quarter, but 32% lower than the record 90 billion for the same period of 2015.
In addition, the report reviewed the overall results of 2015: the updated data shows that the investment made in the renewable sector last year was 348.5 billion US dollars, almost 20 billion more than the primary data (published in January 2016).
The document highlighted the progress of Brazil in the first half of 2016: an increase of 36% thanks to attracting 3.7 billion US dollars of investment. Europe showed an increase thanks to offshore projects: a 4% increase in investment year-on-year (total investment amounted to 33.5 billion US dollars). However, China, which had such good results in 2015, showed a sharp decline: by 34% (33.7 billion US dollars). The rest of the Asia-Pacific region fell by 47% (12.1 billion), Middle East and Africa fell by 46% (4.2 billion). The USA also showed a slight decrease of 5% (23.1 billion), and North and South America, excluding the United States and Brazil, fell by 63% (2.3 billion).
“Today we can almost certainly say that the current year will not be able to surpass the record 2015,” commented on the published report Michael Libre, the founder of BNEF.
In view of the Paris Agreement on Climate Change, one would expect a gradual increase in financing the renewable energy sector, but experts say that the submitted data shows the tendency for general reduction of the cost of energy from wind and sun (i.e. less investment is now required per unit of installed capacity).
Earlier Bloomberg also published a long-term forecast for RES till 2040 that shows that the sector will attract 11 trillion US dollars of investment over the next 25 years.