RenewableS 2013 GlObal STaTUS RePORT - REN21

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03 Wind turbines on the eastern slopes of the San Gorgonio Pass in California, United States. Global new investment in renewable power and fuels reached USD 244 billion in 2012, down 12% relative to 2011, due to policy uncertainties and falling costs. The balance of investments shifted dramatically, with developing countries accounting for nearly half of the global total. Source: NASA
03 INVESTMENT FLOWS Global new investment in renewable power and fuels was USD 244 billion in 2012, down 12% from the previous year’s record amount of USD 279 billion. 1 i (See Sidebar 5, p. 60, and Figure 21.) Despite the setback, the total in 2012 was the second highest ever and 8% above the 2010 level. If the unreported investments in hydropower projects larger than 50 MW and in solar hot water collectors are included, total new investment in renewable energy exceeded USD 285 in 2012. ii This is lower than the equivalent estimate for 2011, however. The decline in investment—after several years of growth— resulted from uncertainty over support policies in Europe and the United States, as well as from actual retroactive reductions in support. On a more positive note, it also resulted from sharp reductions in technology costs. A major theme of 2012 was a further movement in activity from developed to developing economies, although the former group still accounted for more than half of global investment. In 2007, developed economies invested two-and-a-half times more in renewables (excluding large hydro) than developing countries did; in 2012, the difference was only 15%. China was once again the dominant country for renewable energy investment. The other major theme of 2012 was a further, significant reduction in the costs of solar PV technology. In fact, the continued improvements in cost-competitiveness for solar and wind power helped to support demand in many markets. ■■Investment by Economy The year 2012 saw the most dramatic shift yet in the balance of renewable energy investment worldwide, with the dominance of developed countries waning and the importance of developing countries growing. In the developing world, renewable energy outlays reached USD 112 billion, up from USD 94 billion in 2011, and represented some 46% of the world total (up from 34% in 2011 and 37% in 2010). By contrast, outlays by developed economies fell sharply (29%), from USD 186 billion in 2011 to USD 132 billion in 2012, the lowest level since 2009. This shift reflects three important trends: a reduction in subsidies for wind and solar project development in Europe and the United States; increasing investor interest in emerging markets that offer both rising power demand and attractive Figure 21. Global New Investment in Renewable Energy, 2004–2012 Source: See Endnote 1 for this section. Billion US Dollars 300 250 227 279 244 200 150 100 65 100 146 172 168 50 40 03 0 2004 2005 2006 2007 2008 2009 2010 2011 2012 i This section is derived from Frankfurt School – UNEP Collaborating Centre for Climate & Sustainable Energy Finance (FS-UNEP) and Bloomberg New Energy Finance (BNEF), Global Trends in Renewable Energy Investment 2013 (Frankfurt: 2013), the sister publication to the GSR. Figures are based on the output of the Desktop database of BNEF unless otherwise noted. The following renewable energy projects are included: all biomass, geothermal, and wind generation projects of more than 1 MW; all hydro projects of between 1 and 50 MW; all solar power projects, with those less than 1 MW estimated separately and referred to as small-scale projects or small distributed capacity; all ocean energy projects; and all biofuel projects with an annual production capacity of 1 million litres or more. For more detailed information, please refer to the FS-UNEP/BNEF Global Trends report. ii Investment in large hydropower (>50 MW) and solar water collectors is not included in the overall total for investment in renewable energy. BNEF tracks only hydropower projects of between 1 MW and 50 MW, and solar water collectors are not included with small-scale projects because they do not generate power. Renewables 2013 Global Status Report 57
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RenewableS 2013 GLOBAL STATUS REPOR
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FOREWORD Access to modern energy en
Page 5 and 6: TABLES TABLE 1 Estimated Direct and
Page 7 and 8: REN21 Flagship Products and Activit
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Page 11 and 12: ■■Reviewers and other Contribut
Page 13 and 14: EXECUTIVE SUMMARY Renewable energy
Page 15 and 16: In response to rapidly changing mar
Page 17 and 18: TOP FIVE COUNTRIES ANNUAL INVESTMEN
Page 19 and 20: 01 GLOBAL MARKET AND INDUSTRY OVERV
Page 21 and 22: ■■Power Sector Total renewable
Page 23 and 24: Sidebar 1. The REN21 Renewables Glo
Page 25 and 26: ■■Heating and Cooling Sector Mo
Page 27 and 28: 02 MARKET AND INDUSTRY TRENDS BY TE
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Page 37 and 38: Sidebar 3. Sustainability Spotlight
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Page 49 and 50: Wind Power ■■Wind Power Markets
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Page 89 and 90: 06 FEATURE: SYSTEM TRANSFORMATION B
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TABLE R11 ANNEX. SHARE OF ELECTRICI
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TABLE R12. OTHER RENEWABLE ENERGY T
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TABLE R14. CUMULATIVE NUMBER OF COU
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TABLE R16. CITY AND LOCAL RENEWABLE
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TABLE R16. CITY AND LOCAL RENEWABLE
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TABLE R17. ELECTRICITY ACCESS BY RE
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TABLE R18. POPULATION RELYING ON TR
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Council i , have shifted to trackin
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solar beam that heats a working flu
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Renewable portfolio standard (RPS)
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LIST OF ABBREVIATIONS BIPV BNEF BOS
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- Solar, 4 March 2013; MERCOM Capit
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from MNRE, “Achievements,” op.
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68 Dong Energy, “Green Heat to th
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are preliminary and are based on P.
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made, this has not yet become evide
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Hydropower 1 International Hydropow
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47 IMPSA, “Corporate Presentation
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op. cit. note 1, p. 13. Below expec
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66 Based on production capacity of
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7 Technology dominates from Proterm
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4 Ibid., p. 2. 5 Franz Mauthner, AE
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48 Daniel Rowe, Commonwealth Scient
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of 1,905 MW; and Poland added 880 M
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Global Wind Turbine OEM Market Lead
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capacity factors range from around
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Policy Landscape 1 This section is
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Launches Massive Renewable Program
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on Dec. 1,” biofuelsdigest.com, 2
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RURAL RENEWABLE ENERGY 1 Internatio
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Feature: SYSTEM TRANSFORMATION 1 Se
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Power: 2012 European Statistics (Br
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RenewableS 2013 GlObal STaTUS RePORT - REN21

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