• 3 minutes 2nd Annual Great Oil Price Prediction Challenge of 2019
  • 6 minutes "Leaked" request by some Democrats that they were asking Nancy to coordinate censure instead of impeachment.
  • 11 minutes Trump's China Strategy: Death By a Thousand Paper Cuts
  • 14 minutes Democrats through impeachment process helped Trump go out of China deal conundrum. Now Trump can safely postpone deal till after November 2020 elections
  • 2 hours Shale Oil Fiasco
  • 2 hours Everything you think you know about economics is WRONG!
  • 1 hour Wallstreet's "acid test" for Democrat Presidential candidate to receive their financial support . . . Support "Carried Interest"
  • 7 hours USA v China. Which is 'best'?
  • 7 hours Global Debt Worries. How Will This End?
  • 1 day My interview on PDVSA Petrocaribe and corruption
  • 6 hours Judiciary impeachment: Congressman says Sean Misko, Abigail Grace and unnamed 3rd (Ciaramella) need to testify.
  • 2 days Wonders of US Shale: US Shale Benefits: The U.S. leads global petroleum and natural gas production with record growth in 2018
  • 15 hours Quotes from the Widowmaker
  • 2 days Petroleum Industry Domain Names
  • 14 hours Tesla Launches Faster Third Generation Supercharger
  • 7 hours Joe Biden, his son Hunter Biden, Ukraine Oil & Gas exploration company Burisma, and 2020 U.S. election shenanigans
  • 7 hours Winter Storms Hitting Continental US
Alt Text

The Make Or Break Factor For Electric Vehicles

Range anxiety is the make-or-break…

Alt Text

5 Renewable Stocks To Watch In 2020

As oil stocks continue to…

Alt Text

The No.1 Bottleneck For Clean Energy Tech

Clean energy technology offers the…

James Burgess

James Burgess

James Burgess studied Business Management at the University of Nottingham. He has worked in property development, chartered surveying, marketing, law, and accounts. He has also…

More Info

Premium Content

Renewable Energy Sees a Record $257 Billion of Investment in 2011

The UN Environment Program (UNEP) announced in a new report that in 2011 global renewable energy investment reached a record $257 billion; a 17 percent increase from 2010, and a 600% increase over the past seven years.

The solar energy sector saw the largest amount of investment, up from 2010 by 52% to an impressive $147 billion, more than half the total investment in the renewable energy market. This increase was due to an explosion in the number of installations of rooftop panels in the Italy and Germany, along with large-scale concentrated solar thermal projects in the US and Spain.

In terms of investment levels by individual nations China led the field with $52 billion, up by 17 % form 2010; however the US are hot on their heels after a huge 57% increase saw them invest $51 billion in 2011. The UK, Spain, and Italy also vastly increased the amount spent on renewable energy projects by 59%, 45%, and 43% respectively. According to the UNEP report “the fastest investment expansion of any large renewables market in the world” was experienced in India where a 62% rise saw $12 billion invested.

Whilst all this seems great news for the renewable energy industry, the 17% increase was actually lower than the 37% increase from 2009 to 2010, and some regions such as Germany, the Middle East, and Africa saw their renewable investments decline. Economic difficulties have led to austerity measures which means some governments have cut subsidies and tax breaks, triggering a series of company failures and factory closures.

Although Udo Steffens, the president of the Frankfurt School of Finance & Management reassured us that such failures are all part and parcel of a maturing market.

“Renewables are starting to have a very consequential impact on energy supply, but we're also witnessing many classic symptoms of rapid sectoral growth — big successes, painful bankruptcies, international trade disputes and more. This is an important moment for strategic policymaking as winners in the new economy form and solidify.”

Michael Liebreich, the CEO of Bloomber New Energy Finance, said that “in 1903, the United States had over 500 car companies, most of which quickly fell by the wayside even as the automobile sector grew into an industrial juggernaut. Writing off the auto industry based on the failures of weaker firms would have been foolish. Today, the renewable energy sector is experiencing similar growing pains as the sector consolidates.”

By. James Burgess of Oilprice.com




Download The Free Oilprice App Today

Back to homepage



Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play