CONSULTING
20160713MSC-WNISR2016V2-LR
20160713MSC-WNISR2016V2-LR
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decisions for the construction of new nuclear with renewable energy excluding large hydro since<br />
2004. 2014 saw a sharp drop in new nuclear investment, with construction starting on only three<br />
units, which were the Barakah-3 in the UAE, Belarus-2 in Belarus and the Carem reactor in<br />
Argentina, but in 2015 eight new construction starts took place, with six of these were in China,<br />
with the other starts, the final unit, at the Barakah station in the UAE and K-2 in Pakistan, with a<br />
total investment cost of US$28 billion. In the absence of comprehensive, publicly available<br />
investment estimates for nuclear power by year, and in order to simplify the approach, WNISR<br />
includes the total projected investment costs in the year in which construction was started, rather<br />
than spreading them out over the entire construction period. Furthermore, the nuclear<br />
investment figures do not include revised budgets, if cost overruns occur. However, despite all<br />
these uncertainties, it is clear that over this period the investment in nuclear construction<br />
decisions is about an order of magnitude lower than that in renewable energy, with nearly five<br />
times more investment in solar and four times more in wind.<br />
Table 14: Top 10 Countries for Renewable Energy Investment 2013–2015<br />
2015<br />
US$ bn<br />
2014<br />
US$ bn<br />
2013<br />
US$ bn<br />
China 102.9 81.0 54.2<br />
United States 44.1 36.3 33.9<br />
Japan 36.2 34.3 28.6<br />
United Kingdom 22.2 13.9 12.1<br />
India 10.2 7.1 6.0<br />
Germany 8.5 11.4 9.9<br />
Brazil 7.1 7.4 3.0<br />
South Africa 4.5 5.5 4.9<br />
Mexico 4.0 2.1 1.5<br />
Chile 3.4 1.4 1.6<br />
Source: FS-UNEP 2016, 2015, 2014<br />
The past few years have seen the significant rise of investments into small (less than 1 MW)<br />
distributed generation and in 2015, they accounted for a quarter of all renewable energy<br />
investments, US$67.4 billion, up 12 percent from the previous year, but still down from the record<br />
high of US$79.3 billion in 2012. The fall in global investment is a result of slowing down of solar<br />
programs in Europe, and particularly Germany, as well as dramatically lower costs. Interesting to<br />
Mycle Schneider, Antony Froggatt et al. 106 World Nuclear Industry Status Report 2016
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