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year; it was also the first increase in the last three years and reflected
influences from investments in China, Japan, and Europe.
In terms of new financial investments in clean energy in 2014 (Table
2.13), Asia was the leader in clean energy investments ahead of North
America and Europe. The year 2014 also witnessed the continous
spread of renewable energy to new markets. Investment in developing
countries, at USD 131.3 billion, was up by 36 per cent over the previous
year and came closest ever to beating the total for developed economies,
at USD 138.9 billion, up just 3 per cent in the year. It can be deciphered
that the emerging economies have seized the importance of renewable
energy investments. BNEF (2012) also found that with improvements
in technology in solar energy and cost reduction, India and China will
reach grid parity for solar electricity by 2025.
3.2
Figure 2.4 Global new investment in renewable energy by asset class, 2004–14 (USD billion)
Source: Compiled from Global Trends in Renewable Energy Investment Report (GTR), www.ren21.net/gsr
Table 2.13 outlines the global investment flows into renewable energy
over the years. A country-wise break-up is also shown.
Chapter 2 Innovative Financing for Low Carbon Development 277
influences from investments in China, Japan, and Europe.
In terms of new financial investments in clean energy in 2014 (Table
2.13), Asia was the leader in clean energy investments ahead of North
America and Europe. The year 2014 also witnessed the continous
spread of renewable energy to new markets. Investment in developing
countries, at USD 131.3 billion, was up by 36 per cent over the previous
year and came closest ever to beating the total for developed economies,
at USD 138.9 billion, up just 3 per cent in the year. It can be deciphered
that the emerging economies have seized the importance of renewable
energy investments. BNEF (2012) also found that with improvements
in technology in solar energy and cost reduction, India and China will
reach grid parity for solar electricity by 2025.
3.2
Figure 2.4 Global new investment in renewable energy by asset class, 2004–14 (USD billion)
Source: Compiled from Global Trends in Renewable Energy Investment Report (GTR), www.ren21.net/gsr
Table 2.13 outlines the global investment flows into renewable energy
over the years. A country-wise break-up is also shown.
Chapter 2 Innovative Financing for Low Carbon Development 277
