BNEF: Global investment in clean energy reached $1382.<> billion in the first half of the year

According to data compiled by Bloomberg New Energy Finance (BNEF), global investment in clean energy in the first six months of 2018 was $138.
2 billion, down just 1%
from the same period in 2017.
Real investment in the second quarter increased 8% year-over-year to $76.
7 billion.

BNEF: Global investment in clean energy reached $138.
2 billion in the first half of the year

BNEF said the picture of global clean energy investment in 2018 was mixed, with solar investment under pressure and investment commitments in wind and energy smart technologies such as electric vehicles and batteries higher than last year
.

Global investment in solar power projects in the first half of 2018 fell 19% from US$71.
6 billion in the same period last year, due to investment cuts and falling equipment costs in China, a trend that is expected to be further highlighted in the second half of this year
.

"Investment in different sectors in the first half of 2018 showed that investment in solar power fell 19% to US$71.
6 billion compared to the same period last year, and investment in wind power increased by 33% year-on-year to US$57.
2 billion
.
The decline in solar investment reflects two major trends
.
The capital cost of PV projects is significantly reduced, resulting in a reduction in installation costs per megawatt; and the cooling
of China's solar boom.
These trends will become more pronounced
in the second half of the year.
BNEF said
in a statement.

On June 1, the Chinese government issued a policy document restricting the deployment of new solar energy that requires state subsidies, effective immediately
.
Justin Wu, head of BNEF Asia Pacific, said: "We expect this to lead to a significant drop in installed capacity in China this year, which reached a staggering 53 GW
in 2017.
”

Pietro Radoia, senior solar analyst at BNEF, said: "It will also mean overcapacity in the global solar manufacturing industry and prices continue to fall
.
Even before China announced this policy, our team had already expected PV module prices to fall by 27% this year, and now we revise it to a 34% decline to a global average of 24.
4 cents
per watt by the end of 2018.
”

BNEF said growth in wind investment in the first half of 2018 was achieved
thanks to significant project financing from the United States to Taiwan, from India to the Netherlands and Norway.
Major deals include $1.
5 billion for the 731.
5 MW Borssele 3 and 4 offshore wind farms in Dutch waters, $1 billion for the 478 MW Hale County onshore wind project in Texas and $627 million for the 120 MW Formosa 1 Miaoli project
.

Excluding wind energy, equity financing by specialist companies in energy smart technologies grew 64% year-over-year to $5.
2 billion
.
Smaller clean energy sectors, such as biomass and waste, small hydropower, geothermal, and biofuels, all invested between
$7-11.
2 billion in the first half of 2018.
With the exception of biofuels, all others were down
compared to the same period in 2017.

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