Solar power
investments broke records last year, surpassing wind power investments,
according to a report.
The new report*
states that global renewable power investments reached $209 billion in 2011, as
the industry witnessed changing geographical opportunities. Renewables recieved
high investments in the US,
while changing economic conditions in Europe affected
available funding. However, government policies continue to prove themselves as
a major factor in the renewable power market, encouraging the worldwide switch from
carbon-emitting methods to clean power generation.
In 2011, solar
power investments seized a huge 49% share of global renewable power
investments, compared to the 34% share given to wind power. A drastic decrease
in solar PV module prices, due to oversupply issues, resulted in an increase in
capacity installations. Venture financing and private equity investments were
also high for solar technology developments. With solar power prices
approaching grid-parity, asset financing investments in this area have
witnessed a higher growth rate than other renewable generation technologies.
Renewable power
investments from Europe are anticipated to
drop in 2012, as the region’s credit crisis continues to damage economic
stability. However, North America will continue to demonstrate high investments
in both solar and wind power, particularly to wards
the development of new wind power projects.
The renewables
industry is also expected to see growing investments in the Asia-Pacific
region, as low-cost equipment manufacturers tempt the market with competitive
pricing, while some countries in the Middle East and North Africa, such as Abu
Dhabi, Dubai, Saudi Arabia, Morocco, Algeria and Jordon, are being tipped as upcoming
solar power investment destinations for major market players.
China looks to become a future investment giant in the
solar market, as the state government has planned financing of around $100m to
develop projects throughout 40 African nations, where large prospective demand
markets are enabling China
to expand its production targets. As a result, China’s solar module manufacturers
are planning to increase their production capacity drastically, adding 3.6 gigawatts
(GW) of module production capacity in the country by 2012.
*Global
Renewable Power Investment Outlook for 2012 - Key Factors Influencing
Investment Decisions
This report
provides an understanding of the global renewable power investments trends. The
report also provides investment trends as well as market drivers for major
renewable power markets, such as, the US,
China, India, Germany,
Italy and the UK. The report
focuses on investment analysis of wind power and solar power markets and
provides a global renewable power investment outlook for 2012.
This report is
built using data and information sourced from proprietary databases, primary
and secondary research, and in-house industry experts.
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