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BNEF Projects US$5.1 Trillion in Renewable Energy Investments by 2030

Jul 1-22, 2014 -

Bloomberg New Energy Finance (BNEF) has released a report, titled 'BNEF 2030 Market Outlook,' which forecasts investment in various energy technologies worldwide. According to the projections, renewable energy is likely to capture almost two-thirds (65%) of the US$7.7 trillion energy investment expected by 2030.

The Outlook projects that in 2030 over half the world's power capacity mix will come from zero-emitting sources. BNEF expects that the main driver of renewable energy investment will increasingly be economics, rather than policy, largely because a glut of manufacturing capacity has helped decrease prices of wind turbines and solar cells. However, fossil fuels are expected to remain the largest source of electricity generation by 2030, while wind and solar may reach 16-18% of the global generation mix, according to the Outlook.

Of the 5,000 gigawatts (GW) of expected added generation capacity, only 1,073 GW will come from coal, gas and oil-fired plants. As such, BNEF is projecting that carbon dioxide emissions will peak by the end of the next decade. Much of the growth in fossil-fuel powered generation capacity will take place in developing countries, according to BNEF.

The report also examines energy trends by region. Of the US$5.1 trillion total investment to be spent on renewables (including hydropower), US$2.5 trillion will be in the Asia-Pacific region alone. The Americas will capture US$816 billion, and Europe will see investments totaling US$967 billion. The Africa and Middle East regions together are expected to account for the remaining US$818 billion.