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World Hydrogen Leader Charley Rattan Associates

UK based offshore wind & hydrogen corporate advisor and trainer; Faculty member World Hydrogen Leaders. Delivering global hydrogen and offshore wind corporate investment advice, business...

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  • Jul 4, 2020
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Growth for offshore wind

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Roger Arnold's picture
Roger Arnold on Jul 4, 2020

"Renewable energy investments swelling" may be hyperbolic. The Offshore Energy Biz article that the "read more" link goes to is behind a paywall; I can't check the details. Bloomberg NEF, however, puts overall renewable energy investment for 2019 at $282.2 billion, vs. $280.2 for 2018. I wouldn't characterize a 0.7% year-on-year gain as "swelling"; I'd call it very nearly flat.

OTOH, Bloomberg does note that it was a surge in offshore wind financing late in 2019 that saved overall year-on-year investment for 2019 from ending up below 2018. So if one inserts a qualifier of "in offshore wind" after "Renewable energy investments", then the headline could be justified.

The Bloomberg data should still be of concern.  It shows overall RE capacity investments relatively flat since 2011, with 2018 and 2019 both down from the peak of $315 billion in 2017. RE capacity has been getting steadily cheaper, however. The stagnation in RE investment is less obvious looking only at new capacity. That shows a steady rise -- although not the exponential rise that would be needed to approach 100% renewables by 2050. 

Matt Chester's picture
Matt Chester on Jul 6, 2020

overall renewable energy investment for 2019 at $282.2 billion, vs. $280.2 for 2018. I wouldn't characterize a 0.7% year-on-year gain as "swelling"; I'd call it very nearly flat.

The 2020 data will surely look even less 'swell-worthy,' as COVID has eaten away potential investments for many months and the expiration of ITCs/PTCs will soon be hitting the investment market as well. If 2020 investment were able to be nearly flat from 2019 given those circumstances, I'd consider that a greatly positive result (even if not swelling)

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Charley Rattan on Jul 5, 2020

Didn't realise article was oaywalled as curiously I could see it. Here is a Bloomberg link which may be to one to which Roger refers:  https://about.bnef.com/blog/late-surge-in-offshore-wind-financings-helps...

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