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ePaper created 2014-06-03, 15:03:20 | version 1.30.01
68 03 INVESTMENT FLOWS and Asia-Oceania, excluding China and India, where annual investment in renewable energy continued its uninterrupted rise. The Asia-Oceania region saw investment increase 47% over 2012, to a record high of USD 43.3 billion, due largely to the solar boom in Japan. (See Figure 24.) Europe and China continued to be the most significant investors, despite declines in each region; together they accounted for just short of half (49%) of the world total, down from a 59% share in 2012. Most of this decline was seen in Europe, where investment dropped by 44% in 2013 relative to 2012. At the national level, the top 10 investors consisted of three developing countries (all BRICS countries) and seven developed countries. China was again in the lead, with an investment of USD 54.2 billion, excluding R&D. It was followed by the United States (USD 33.9 billion), Japan (USD 28.6 billion), the United Kingdom (USD 12.1 billion), and Germany (USD 9.9 billion). The next five were Canada (USD 6.4 billion), India (USD 6 billion), South Africa (USD 4.9 billion), Australia (USD 4.4 billion), and Italy (USD 3.6 billion).i China accounted for USD 56.3 billion (including R&D) of new investment in renewable energy, down 6% from 2012. Asset financing increased, but contributions from public markets and private equity shrank to low levels. Despite the overall decline, China’s investment in additional renewable power capacity surpassed fossil fuel capacity additions in 2013 for the first time. The vast majority of the country’s investment was for solar and wind power projects, and China was the top country by far for spending on utility-scaleii projects, followed distantly by the United States and the United Kingdom. China also invested significant sums in hydropower, bringing about 29 GW of new capacity into operation during the year, of which a large portion was projects >50 MW.iii 1 (See Hydropower section.) United States Americas (excl. United States & Brazil) Brazil 5.5 11.7 28.2 33.6 35.9 23.5 34.7 53.4 39.7 35.8 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 60 40 20 Billion USD Billion USD Billion USD 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 20 1.4 3.3 3.2 4.9 5.8 6.1 11.5 8.7 9.9 12.4 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 20 0.6 2.6 4.6 11.0 12.2 7.8 7.7 9.7 6.8 3.1 India 2.5 2.9 4.4 6.3 5.4 4.2 8.7 12.6 7.2 6.1 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 20 Africa & Middle East 0.5 0.5 0.9 1.6 2.3 1.4 4.3 3.2 10.4 9.0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 20 Figure 24. Global New Investment in Renewable Power and Fuels, by Region, 2004–2013 United States Americas (excl. United States & Brazil) Brazil Africa & Middle East Billion USD Billion USD Figure 24. Global New Investment in Renewable Power and Fuels, by Region, 2004–2013 i - National investment totals do not include government and corporate R&D because such data are not available for all countries. The South Africa number also does not include small-scale projects. Note, however, that data in Figure 24 do include government and corporate R&D. ii - “Utility-scale” in this section refers to wind farms, solar parks, and other renewable power installations of 1 MW or more in size, and to biofuel plants of more than 1 million litres’ capacity. iii - The Chinese government estimates that China invested more than USD 20 billion (CNY 124.6 billion) in hydropower during 2013, including hydropower facilities of all sizes (this number may also include pumped storage).