Renewable energy investment to fall in 2012; emerging markets rule the roost
Indications are that renewable energy investments will fall in 2012 for the first time in 8 years. However, the news is not all bad, says Ernst & Young, with continuing capacity additions and “booming” emerging market activity. In particular, the South African and MENA regions are displaying strong growth.
“The transition to a more resource-efficient and low-carbon economy is inevitable,” states Gil Forer, Ernst & Young’s global cleantech leader. And, while renewable energy investment is expected to fall for the first time in 8 years in 2012, from the record US$237 billion (€183.08 billion) reaped in 2011, the news should not necessarily be taken as negative.
Indeed, as Ben Warren, Ernst & Young’s energy and environmental finance leader points out, while prices have dropped, capacity is continuing to be added and emerging market activity is “booming”.