Citing the London-based consulting company Bloomberg New Energy Finance the German Business News here reports that “investments in renewable energies collapsed worldwide in the third quarter” of this year, led by Europe, China and Japan.
Compared to the 3rd quarter of 2015, investment, mainly in solar and wind power, fell a whopping 43 percent.
Among the reasons: a number of governments rolled back subsidies for renewable energies, and so total investments for the year will be far below the level of the previous year 2015), Bloomberg reports.
According to the report (translated from the German Business News): “The third quarter results are worrisomely low, especially with regards to the weakening trend of the year overall“. Japan and China saw significant reductions in investments.
In total in 2015 almost one third of a trillion dollars were invested – a record. However, global CO2 emissions continued to climb unhindered. 2016 will see less investment in wind and solar.
The Bloomberg report also mentions that the German government also will “throttle” the expansion of wind energy in northern Germany, a region that had seen huge growth in the sector since the year 2000. The reason for the scale-back is the slow pace at which the needed power grid expansion is taking place – due in large part to mounting citizens’s protests.
This is hardly the investment trend that the upcoming Paris Treaty has in mind.