Tuesday, 30 August 2016
Last updated 9 hours ago
Oct 14 2009 | 9:23am ET
Investments in clean energy worldwide are expected to total $115 billion in 2009, down from $155 billion in 2008, according to a recent report from New Energy Finance.
The third quarter figures released earlier this month by the group also show the U.S. lagging far behind the EU in clean energy investing – of the $19.2 billion in asset financing recorded in Q3 2009, only $1.2 billion came from the United States. The report blames delays in the distribution of U.S. stimulus funds:
“The structure of the U.S. stimulus program effectively brought project finance to a halt in the U.S. as developers waited to ensure they qualified for grants or debt guarantees,” said New Energy CEO Michael Liebreich. “Now that there is an infrastructure in place to disburse funds, we expect investment activity in the U.S. to accelerate as we head into 2010.”
The third quarter saw an increase in cleantech mergers and acquisitions, but overall, says Liebreich, there is too much reliance on “stimulus funds, development banks and state-backed capital providers of various sorts.”