China became the largest investor in solar and wind power – BBC

China became the largest investor in solar and wind power – BBC

GRAPHICS – With $ 89.5 billion spent last year in green energy, the Middle Kingdom has surpassed the United States while being the first consumer of coal. The capital invested in green energy rose by 16% in 2014 across the world.

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After two years of decline, global investment in Renewable energy is go again in 2014. In one year, they increased by 16% to a total of $ 310 billion according to data collected by Bloomberg New Energy Finance (BNEF) authoritative on the subject in recent years.

Continuing its objectives “decarbonising” its energy production, China, while remaining the world’s largest consumer of coal, has also become the leading investor in solar and wind power. The Middle Kingdom has spent $ 89.5 billion last year to green energy, a dramatic increase of 32% year on year. China is far ahead of the second country in the ranking, the United States, which has invested nearly $ 52 billion.

The amount wagered in China are spectacular as the country began to green energy much later than in Europe or the United States. In 2004, when BNEF began its estimates, the Chinese had invested only $ 2.4 billion in renewable, two times less than the United States and nine times less than Europe. China has been catching up fast. Of the ten years, cumulative investment in China has surpassed the United States (388 billion against $ 346 billion). During the same decade, the EU has spent investing twice as much green energy.

In terms of installed production capacity, China’s dynamic is also impressive. China has 109 gigawatts (GW) of wind and solar power, against 78 GW in the US, far more of the 200 GW installed in the EU, according to data from GWEC (World Association of wind power) and the EPIA (European Photovoltaic Association).

Photovoltaics weighs half of the investments in renewable

Worldwide, “This strong investment in clean energy (in 2014) will surprise observers who predicted turbulence in renewable due to the fall in oil prices since the summer,” said Michael Liebreich, the President BNEF. “It is too early to measure a significant effect on investment, and anyway, the impact of a cheaper barrel will be felt much more in the road transport sector in the production of electricity.” The oil is indeed a marginal source of electricity generation worldwide, coal and gas are the main sources of fossil fuels.

In Europe, growth in investment in renewables was almost zero (1%). This is a result of the economic slump and challenging in many countries of expensive support for green energy. Unexpected exception in the landscape of France, where capital employed in 2014 jumped 26% to $ 7 billion. BNEF explains this growth by investment decision, signed last year, the largest solar power plant ever built in Europe in Cestas, near Bordeaux, with a capacity of 300 megawatts at a cost of 360 million euros; alone, the draft Cestas accounted for 5% of the green investments of the year.

Photovoltaics weighs on the scale of the planet, half of the investment in renewables, thanks a substantial decrease in production costs, says BNEF, far ahead of wind power, smart grids and storage techniques.