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.
Shelter and food seem much more important to most folks.
Transferring money to the already well-to-do ranks dead last for most of us.
“In total in 2015 almost one third of a trillion dollars were invested – a record.”
The following is more truthful:
In total in 2015 almost one third of a trillion dollars were wasted – a record.
Remove the subsidies… Peak Renewables.
My prediction for the New Year is a new round of Quantitative Easing (QE) will be started by Europe’s Central Banks, followed by calls for additional wind farms and solar power to litter more of Europe’s landscapes, by the technocrats.
@John F. Hultquist,
Amen to a great comment.
Robbing the poor via higher energy prices to feed the rich who own wind farms, industrial scale solar arrays and Tesla automobiles are all examples of the “Reverse Robin Hood Principle”.
While Robin Hood was a criminal he at least pretended to be helping the poor. The thieves who run governments around the world are looking after their buddies at the expense of the poor.
My prediction is that the 15% YoY growth rate of subsidy theft in Germany will continue as long as the Green coalition SPD-CDU exists. The SPD and CDU members know what they’re doing. They invest accordingly.
What was wrong with my comment about the low EROI of renewable generators?
Hi Analitik, my thoughts after posting here quite a bit is that sometimes posts go through, sometimes seem to just disappear and sometimes get held in moderation until Pierre is awake to release them.
Seems sort of random, I have yet to figure out any particular reason.. Be patient 🙂
Auto mod.
The boss will sort it when he can.
The source is utter garbage. (it is not a real paper and posting very strange articles )
a better version can be found here, and this includes some numbers:
http://fortune.com/2016/10/10/clean-energy-investment/
and this way you can find the main reason. China has already installed 20 Gw of new solar this year.
http://www.pv-magazine.com/news/details/beitrag/china-triples-h1-solar-installations-to-20-gw_100025539/
look, we disagree on a lot of things. But why does nobody here take a look at the past of these numbers?
the dataset is incredibly noisy. That is really easy to see:
https://www.bbhub.io/bnef/sites/4/2016/07/q2-2016-bnef.jpg
If we use the same logic you folks use on temperature data, we would argue that the investments are flat since 2010.
But if we look at costs of renewables, we see a massive decrease since 2010. so that flat investment is now buying 3 times the capacity.
http://www.europe-solar.de/catalog/images/solar/price-trend-modules-h.jpg
“But if we look at costs of renewables, we see a massive decrease since 2010. so that flat investment is now buying 3 times the capacity. ”
Then why are subsidies in Germany now higher than ever? This means that the profits of the wind and solar fraudsters are ballooning – and they won’t let go of their pound of flesh ever: A rotten class of parasites that will only be divorced from their ill gotten gains by destroying the corrupt political caste of SPD-CDU (and the lunatic inventors of the fraud scheme, the Greens of course).
Nice try.
Try removing the subsidies from the renewables and factoring intermittency support. Then the costs are far less flattering else the “investment” rate would not be slumping.