Global investment in green energy projects has declined over the last year, according to new figures.
New investment in clean energy projects totalled $58.2billion in the final quarter of 2013 – down by more than 20% on the previous year.
Total green energy investment fell to $212billion, the second annual fall in succession.
The findings, in a new report from Clean Energy Pipeline, suggest the benefits of US shale gas investment have taken their toll on support from projects.
“We expected investment levels in 2013 to be disappointing” commented Clean Energy chief executive Douglas Lloyd.
“With low gas prices in the US and ongoing policy uncertainty globally, it is no surprise that investment declined in 2013.”
More than $34billion was spent on projects in the fourth quarter of 2013 – up from the $28.2billion the previous quarter but down 27% on the same period in 2012.
Overall finance for the year fell to $119billion, the lowest annual investment in green projects in four years, with the quarterly rise underpinned by European projects such as Greater Gabbard and the London Array.
A dramatic fall in large capital investments in solar projects also brought down numbers, the research found.
“Only $106 million was invested in solar companies in 4Q13, substantially below the $633 million average quarterly investment volume tracked between 2009 and 2011.”
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