Bloomberg New Energy Finance (NEF) have reported that USD 332.1 billion were invested in global clean energy in 2018.
This figure is down 8% from 2017, but is nonetheless the “fifth year in a row in which investment exceeded the USD 300 billion mark”, reported the research company.
For the solar industry, global PV installations increased from 99GW in 2017 to 109GW in 2018. However, investment in that sector dropped: partly due to declining capital costs and a change in China’s policy which saw a restriction in access to its feed-in tariff for new projects.
Energy sectors which grew include wind energy, with offshore wind recording its second-highest year, and energy efficiency measures like smart meters, and electric vehicles. Investment in biomass, waste-to-energy, and biofuels all rose significantly, and geothermal, and marine energy also saw an increase.