As per the Global Trends in Renewable Energy Investment 2014 – produced by the Frankfurt School-UNEP Collaborating Centre for Climate & Sustainable Energy Finance, the United Nations Environment Programme (UNEP) and Bloomberg New Energy Finance – the investment drop of $US35.1 billion was partially owing to the falling cost of solar photovoltaic systems. The other main cause being policy uncertainty in many countries, an issue that also depressed investment in fossil fuel generation in fiscal 2013.
- Total investments fell in 2013 by 14 percent to $214 billion worldwide, reflecting significant cost reductions and the impact of policy uncertainty.
- Solar PV, in particular, improved its cost-competitiveness: some 39GW were installed, up from 31GW in 2012, for fewer dollars invested.
- The number of markets that can compete without subsidies is increasing.
- Renewables excluding large hydro account for 43.6 percent of 2013’s newly-installed generating capacity.
- Wind investments remained roughly the same, while solar PV outlays dropped 20 percent despite a record amount installed.
- In 2013, China for the first time invested more in renewable energy than Europe.
- Renewable energy investment in Japan increased by 80 percent during the last year.