Global Slump in New Energy Investment for Three Quarters, A New Low in Three Years

     Original text links: http://www.cnenergy.org/gj/gjcj/201610/t20161011_393511.html

    Owing to the declined demand for clean energy in China, Japan and European countries, the global investment for clean energy has reached a new low in three years.

    It is reported by Bloomberg New Energy Finance on Monday that the total investment amount for clean energy globe wide in last three quarters was only USD 42.4 billion, which marked a new low in three years ever since the first quarter of 2013, with a decline of 43% of the same period of last year.

    The Bloomberg New Energy Finance serves as a research company headquartered in London, Britain. Michael Liebreich, founder and President of the company, points out that the reason why large-scale solar energy and wind power plants are hit by violently plunged financing is because that, on the one hand, the government has slashed its subsidies to clean energy project, while on the other hand, the cost of clean energy itself has reduced.

    He estimates that the global investment for new energy this year might go way less than the record of last year, namely, USD 348.5 billion.

    Although the clean energy demand in China, Japan and European countries declines, America might turn out to be the next hot spot for clean energy investment.

    In a televised debate of last month, Hillary, the candidate of Democratic Party of United States, claimed that great efforts would be made to develop clean energy industries, the solar energy industry for instance, to create more employment opportunities.

    “We are going to install 500 million pieces of solar panels to provide sufficient clean energy for each household and to establish a brand new modern power grid, which will create tons of employment opportunities.” claimed Hillary in the debate.

    According to previous Wallstreet News, it is analyzed that Hillary, as the candidate of Democratic Party of United States, will stick to the policy the government is implementing right now where the fossil fuel energy will be replaced by clean energy gradually by increasing the tax rate of the former and offering government subsidies to the latter so as to reduce its cost.