According to reports, the overall global clean energy investments in 2012 was $268.7 billion, down from $302.3 billion in 2011. Clean energy investment declined 11 per cent in 2012, weighed down by regulatory uncertainty and policy changes in big markets such as the US, India, Spain and Italy. Sharply lower prices of solar and wind technology also provided downward pressure on investment volumes.
Among countries experiencing falls in investment were the US, with a 32 per cent drop in the face of worries during most of the year about the expiry of a key support programme and competition from gas-ÂÂ]fired projects. India saw investments going down by 44 per cent, reflecting the expiry of incentives for wind, and fewer project approvals for solar.
There was a 51 per cent plunge in Italian investment to $14.7 billion as policy changes there curbed the country’s solar photovoltaics boom; a 68 per cent decrease in Spain to just $3 billion as its government announced a moratorium on subsidies for projects not yet approved.
The new investment was made up of five main parts. The largest of these was asset finance of utility-ÂÂscale renewable energy projects, such as wind farms, solar parks and biofuel plants. This totalled $ 148.6 billion, down from $ 180 billion in 2011.