Asia Pacific Pushing Clean Energy Investment - Pew Research
12 April 2012 at 12:29 pm
Global clean energy finance and investment grew to $263 billion in 2011, a 6.5 percent increase over the previous year, according to new research released by The Pew Charitable Trusts.
Clean energy investment in Australia increased 11 percent in 2011 to $4.9 billion with the vast majority of investments – 82 percent or $4 billion – directed toward the solar sector. On average, investment in the Asia and Oceania region grew 10 percent to $75 billion, and the region is the second leading destination for clean energy investment.
India, Japan, and Indonesia were among the fastest growing clean energy markets in the world.
Investment in the wind sector fell sharply to less than $800 million. Australia ranks 13th among G-20 nations for its one-year rate of growth, forth in terms of five-year growth rates and ninth for five-year growth rates in installed generating capacity. Australia now has more than 5 gigawatts of installed clean energy capacity.
"Clean energy investment, excluding research and development, has grown by 600 percent since 2004, on the basis of effective national policies that create market certainty," said Phyllis Cuttino, director of Pew's Clean Energy Program.
"This increase in investment is significant because it drives innovation, commercialization, manufacturing and installation of clean energy technologies that create new opportunities for innovators, entrepreneurs and workers alike."
Among renewable technologies, investment in solar increased by 44 percent, attracting $128 billion and accounting for more than half of all clean energy investment in G-20 countries. Dramatic price declines, with the cost of solar modules dropping by half in the past 12 months, fueled the activity. Wind prices also declined in 2011.
Read the full report, including country profiles and interactive graphics, at http://www.PewTrusts.org/CleanEnergy.
The Pew Charitable Trusts says it applies a rigorous, analytical approach to improve public policy, inform the public and stimulate civic life.