In 2018, global clean energy investment exceeded $300 billion for the fifth consecutive year

Bloomberg New Energy Finance (BNEF) released its annual and authoritative global clean energy investment data on Wednesday, showing that total investment in 2018 reached an impressive $333.
1 billion, which is the fifth consecutive year that clean energy investment has exceeded $300 billion
, although this is down 7% from $361.
7 billion in 2017.

Investment in the vast majority of clean energy technologies increased in 2018, but at varying
rates.
Small-scale technologies such as biomass and waste-to-energy increased by 18 per cent to $6.
3 billion, biofuels by 47 per cent to $3.
0 billion, geothermal by 10 per cent to $1.
8 billion and marine investment by 16 per cent to $180 million
.
Small hydro, on the other hand, fell by 50 per cent to $1.
7 billion
.

Wind investment grew by 3%
in 2018.
Among them, offshore wind increased by 14% to US$25.
7 billion, and onshore wind increased by 2%, bringing total investment to US$100.
8 billion
.
The largest single wind investment project in 2018 was the 950 megawatt (MW) Moray Firth East project in the North Sea with about $3.
3 billion, followed by the 706 MW Enel Green Power South African onshore wind farm portfolio at $1.
4 billion and third with the US 600 MW Xcel Rush Creek wind project with an investment of about $1 billion
.

Most importantly, however, offshore wind is beginning to shift from traditional developed markets such as Europe to China, with 13 offshore wind farms Chinese mainland start construction in 2018 with an estimated value of US$11.
4 billion.

"The balance of offshore activity is tilting," explains David Hostert, Head of Wind Analysis at BNEF, "Countries like the UK and Germany have pioneered the industry and will continue to be important, but Chinese mainland is becoming the largest market, while new locations such as Taiwan and the US East Coast are receiving strong attention
from developers.
" ”

However, the biggest hit to clean energy investment in 2018 came from the solar sector, whose overall investment fell 24% to $130.
8 billion.

Part of this reduction is due to the natural cycle of evolving technology, as the continued sharp decline in capital costs means that more solar PV can be installed
at extremely low prices.
BNEF's global benchmark for the cost of installing megawatt-scale solar PV capacity fell by 12% in 2018, but this was at least partly due to an oversupply of solar PV modules in the global market caused by policy changes in China
.
As a result, China's solar investment fell 53% to $40.
4 billion
in 2018.

"2018 was certainly a difficult year for many solar manufacturers and developers in China," said Jenny Chase, head of solar analysis at BNEF, "however, we estimate that global PV installed capacity increased from 99 GW in 2017 to about 109 GW in 2018, as other countries have greatly improved their competitiveness with the technology
.
" ”

"Again, China's actions have played an important role in the dynamics of the energy transition, helping to reduce solar costs, develop offshore wind and electric vehicle markets, and elevate venture capital and private equity," added
BNEF CEO Jon Moore.

In 2018, clean energy investment data for major countries and regions around the world also included:

China $100.
1 billion, down 32% year-on-year;

$64.
2 billion in the United States, up 12% year-on-year;

Europe $74.
5 billion, up 27% year-on-year;

Japan $27.
2 billion, down 16% year-on-year;

India was US$11.
1 billion, down 21% year-on-year;

Germany $10.
5 billion, down 32% year-on-year;

The UK was $10.
4 billion, up 1% year-on-year;

Australia $9.
5 billion, up 6% year-on-year;

Spain 7.
8 billion US dollars, a seven-fold increase;

the Netherlands $5.
6 billion, up 60% year-on-year;

Sweden $5.
5 billion, up 37% year-on-year;

France $5.
3 billion, up 7% year-on-year;

South Korea $5 billion, up 74% year-on-year;

South Africa $4.
2 billion, a 40-fold increase;

Mexico $3.
8 billion, down 38% year-on-year;

Vietnam US$3.
3 billion, an increase of 18 times;

Denmark $3.
2 billion, a five-fold increase;

Belgium $2.
9 billion, a fourfold increase;

Italy $2.
8 billion, up 11% year-on-year;

Morocco $2.
8 billion, a 13-fold increase;

Taiwan $2.
4 billion, up 134% year-on-year;

Ukraine $2.
4 billion, an increase of 15 times;

Canada $2.
2 billion, down 34% year-on-year;

Turkey $2.
2 billion, down 5% year-on-year;

Norway was almost flat at $2 billion