Following on from news at the start of the year that 2012 was the worst year so far for clean energy investment, 2013 has got off to an equally-troubling start as it has been revealed investment has slid a further 22%.
It’s now reached its lowest level in four years, with clean energy investment for the first quarter of 2013 standing at a total of $40.6bn worldwide.
The data, compiled by Bloomberg New Energy Finance, points to several key factors contributing to such a low figure. Governments worldwide have continued to pare back subsidies even further as a slower-than-expected recovery from recession takes its toll, whilst huge scale financing operations in China and Brazil reaching a standstill.
“The last 18-months have seen a number of significant support programs launched in the aftermath of the financial crisis come to an end,” said Michael Liebreich, chief executive officer of the London-based research company.
Whilst the results of the research yielded worrying statistics for most of the world, there were some hot-spots for renewable growth – with Asia in particular investing in green business energy solutions. Japan rose it’s investment to $8.2bn, whilst Asian countries – outside of the stalling China and India – boosted their collective investment by 47% to an all-time high $10.1bn.
Worldwide the specialist subsidies for business energy brokers, investors and companies have had a shaky start to 2013, with the main subsidy for wind power stalling in Germany and the US, as well as being scrapped altogether in some parts of central Europe.