Tag Archives: Energy

Developing countries take the lead on green energy investments

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Developing countries invested more in renewable energy last year, overtaking the developed world for the first time, a UN report has revealed.

A generation ahead: renewables investment in the Middle East and Africa doubled in 2010

Global investment in renewables grew by one third last year, to $211 billion, according to the UN Environment Programme (UNEP) report, based on research by Bloomberg New Energy Finance (BNEF).

Government-funded R&D investment also jumped 121% to $5.3 billion, but at the same time corporations spent less on research, with economic troubles causing a 12% drop to $3.3 billion.

Achim Steiner, executive director of UNEP, said: “The combination of government target-setting, policy support and stimulus funds is underpinning the renewable industry’s rise and bringing the much-needed transformation of our global energy system within reach.”

Investors poured $72 billion into utility-scale renewable energy projects and equity for renewable energy companies in the developing world, edging above the $70 billion invested in developed economies such as Europe and North America.

China saw a 28% growth in ‘financial new investment’ in these categories, to $48.9 billion, making it the world leader, the report says. India saw a 25% rise to $3.8 billion.

And investment in the Middle East and Africa more than doubled to $5 billion last year.

Europe saw investment in large-scale renewables drop 22% to $35.2 billion in 2010, but this was “more than made up for” by the spread of small-scale renewables, mostly solar panels on rooftops. Overall investment in small-scale projects rose 91% in 2010, to $60 billion.

“Europe’s small-scale solar energy boom owed much to feed-in tariffs, particularly in Germany, combined with a sharp fall in the cost of photovoltaic modules,” said Michael Leibreich, CEO of BNEF. The cost of the solar panels has dropped 60% since mid-2008, the report says.

Although several European countries slashed their feed-in tariffs, investment in small-scale renewables more than doubled in many countries. Germany saw a 132% rise to $34 billion, while France saw a 150% increase to $2.7 billion and investment in the Czech Republic grew 163% to $2.3 billion.

However, the value of acquisitions and mergers among renewables companies dropped last year, from $66 billion in 2009 to $58 billion in 2010.

Green light for new Nuclear Sites in the UK

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Hinkley Point is expected to given the go ahead as a new site for nuclear development. This proposal will secure a multi-billion pound investment for Somerset – however it will obviously spark some controversy over the development of Nucelar developments in the region.

According to local councillors Nuclear is seen as the answer to meet our diminishing energy supplies. It is also highlighted what major boost nuclear development will have to the local economy. Oldbury in south Gloucestershire is another location awaiting to hear back in regards to being a proposed site.

There are issues concerned with the Oldbury site including the prevention of flood risk as well as its proximity to the Severn Estuary and the local ecology.

The Government has also announced another six areas for proposed nuclear development including Sellafield, Cumbria, and Sizewell, Suffolk, which are likely to get the go-ahead today. It also approved in principle Bradwell-on-Sea, Essex, Hartlepool, Heysham, Lancashire and Wylfa on the Isle of Anglesey.

Ministers ruled out Dungeness, Kent, amid concern over damage to its internationally unique eco-system, although pressure from local supporters of nuclear meant it was included in the second consultation.

The site at Hinkley could be operational by the end of the decade with Oldbury operating at least by 2025. From an economic perspective these proposed developments would create some 18 000 jobs but there is obviously a backlash towards the proposed developments of Nuclear. Anti-Nulcear Campaigners are ready to fight the proposals of a new wave of nuclear development in the UK primarily focusing on the well publicised health and potential environmental concerns related with Nuclear Energy.

What is your opinion on the proposed Nuclear developments in the UK?