Europe's Clean Energy investment falls by 14%
The clean energy investment of Europe had fallen 14% in the third quarter from the last three months, said a Bloomberg report. This was after Europe restricted subsidies and cheaper US natural gas had lured investment.
The USD45.9 billion spent in clean energy investments made it almost certain that annual investments in renewable and energy smart technologies would fall for the second consecutive year. This was comparable to last year's USD281 billion investment, according to a statement from Bloomberg New Energy Finance. The investment in the quarter was 20% lower compared to the same period last year. This was after spending in China, US and Europe decreased. The United States saw the biggest decline of 41% to USD5.5 billion. This was according to the London-based research firm.
The clean energy industry in Europe had retrenched, said a report from Bloomberg. This was after subsidies were reduced in nations from Spain to Germany. The said subsidies had helped to propel recorded growth in the past years. Cheap gas in the US had contributed to the overall decrease said the London based consultant.