The World Gets Ready for Solar Power
Solar power investments broke records last year, surpassing wind power investments. Global renewable power investments reached $209 billion in 2011, as the industry witnessed changing geographical opportunities. In 2011, solar power investments seized a huge 49% share of global renewable power investments, compared to the 34% share given to wind power. A drastic decrease in solar PV module prices, due to oversupply issues, resulted in an increase in capacity installations. Venture financing and private equity investments were also high for solar technology developments. With solar power prices approaching grid-parity, asset financing investments in this area have witnessed a higher growth rate than other renewable generation technologies.
Global Renewable Power Investments in 2012 are Expected to be Lower than Previous Year
Renewable power investments from Europe are anticipated to drop in 2012, as the region’s credit crisis continues to damage economic stability. North America will continue to demonstrate high investments in both solar and wind power. The renewables industry is also expected to see growing investments in the Asia-Pacific region, as low-cost equipment manufacturers tempt the market with competitive pricing, while some countries in the Middle East and North Africa, such as Abu Dhabi, Dubai, Saudi Arabia, Morocco, Algeria and Jordon, are being tipped as upcoming solar power investment destinations for major market players.