In addition, Australia’s spending on large-scale renewable energy projects fell to $58 million in the first half of calendar 2014 from almost $1. 3 billion a year earlier, according to Bloomberg New Energy Finance in Sydney.
Unlike the situation in Australia, sub-Saharan Africa is emerging as one of the most exciting new markets for renewable energy technologies such as onshore wind, small-scale and utility-scale solar and geothermal power, according to Bloomberg New Energy Finance.
Bloomberg New Energy Finance forecasts that investment in clean energy excluding large hydro in Sub-Saharan Africa will be $US5. 9 billion this year, down 5 per cent on 2013′s figure of $US6. 2 billion, but that it will accelerate to $US7. 7 billion in 2016.
The switch from fossil fuel to renewable energy faces both political and financial challenges – although they are not unsurmountable, according to new research from Bloomberg New Energy Finance this week.
The new white paper forecasts that while $US5. 5 trillion in clean energy investment is needed from now to 2030, pension funds or institutional asset managers may not integrate clean energy into their portfolios based on the risk-return and liquidity characteristics of projects.
Read more here: Business Spectator