31 May 2013 (Solar Industry)
“A new era is dawning in the renewable energy industry….According to the Ernst & Young 10th anniversary edition of the Renewable Energy Country Attractiveness Index (RECAI), global annual clean energy investment totaled $269 billion in 2012, representing a five-fold increase on 2004…The sector now competes for investment with more traditional energy sources, and new technologies - such as solar panels, biomass boilers and mini wind turbines - are enabling energy users to run their own small power plants, changing the way businesses and consumers think about energy… “…South America [especially Chile, Peru, and Brazil] and the Asia Pacific region [especially Japan, Australia, and Thailand] continue to rise as Europe and the Middle East stall…The index sees the U.S. regain the top spot, as high barriers to entry for external investors realign China into second place. However, the report says growth prospects for the sector in China remain strong with continued gross domestic product growth, increasing energy demand and the ongoing strategic importance of the sector to the local economy…”
click to enlarge“In Europe, the report says Romania became the latest to slash its subsidies, reinforcing the relatively somber mood in Eastern Europe as policymakers try to find the balance between growth and sustainability…[A] number of Middle Eastern and North African countries, including Egypt, Tunisia and the United Arab Emirates (UAE), have fallen out of the top 40 due to a slow recovery from the Arab Spring and an absence of clear policy frameworks… “…[Recent deal activity] has been characterized by incumbents and new entrants driving industry consolidation. There is also a strong appetite from Far East construction groups and original equipment manufacturers (OEMs) seeking development pipelines of solar and wind assets to provide a distribution channel…The mismatch between project sponsors’ capital expenditure plans and the corporate capacity to finance this investment will continue to drive more asset disposals, Ernst & Young adds. Both financial investors and OEMs under pressure from overcapacity are likely to remain the most active …”
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