House Tablet

Find The Best Solar Deals In Australia

  • 3 Free, No Obligation, Solar Quotes
  • From Fully Qualified Installers
  • With 1000’s of Customer Reviews
  • Competing for Your Business
Finn Peacock Caricature

Check Your Postcode for local solar power quotes

Global solar power investment continues to increase

18th Oct 2011

Bloomberg New Energy Finance has released a report which shows the global investment in solar power increased in the third quarter of 2011.

The growth comes despite obstacles in the form of the European financial crisis and falls in the value of clean energy shares.

Investment in clean energy technology rose nine per cent higher than the second quarter of 2011 - up to $45.4 billion.

Solar panel systems, biofuels, solar thermal plants and geothermal projects have all seen a boost in the last three months.

Michael Liebreich, chief executive of Bloomberg New Energy Finance says: "Over the past three years we have seen extraordinary falls in the prices of clean energy equipment - wind turbines and solar photovoltaic panels.

"As these figures show, this has driven up installation rates and asset investment levels."

According to Liebreich, the current climate is a buyer's market - with suppliers reporting stock levels above demand.

Bloomberg has investigated the average price of solar photovoltaic systems and found that they have fallen by one-third since spring 2010.

Compared to mid-2008 prices, solar power technology is now 70 per cent cheaper at the current market rate.

Increased affordability has led to thousands of Australians installing rooftop solar panels in their home, allowing them to generate their own clean energy and reduce their reliance on power companies.

Many have been eligible to take part in state-run feed-in tariff schemes that pay consumers for the excess energy they channel into the grid.

Investment in wind farms has also seen dramatic growth - now representing more than one gigawatt in worldwide capacity and $6.3 billion in investment.

The cost of this technology has fallen 20 per cent since 2009, resulting in more and more wind farms being built around the globe.

A number of large-scale clean energy company acquisitions - valued at $25.9 billion this quarter - have signalled increasing confidence in the technology.

Liebreich says: "The low valuations for clean energy companies are giving industrial groups and utilities the opportunity to move in on a sector that they know will enjoy growth over the medium to long term."

Bloomberg reported a total of $243 billion being spent on clean energy technology in 2010, with analysts now looking towards fourth-quarter activity - which posted record investment numbers in the same time last year. 

Posted by Mike Peacock - Solar Correspondent

Solar Power News Categories

Government Rebate & Regulations
Solar Power & Technology

More Solar Power & Technology

Australia to be a part of huge Asian renewable energy growth
SunPower steps up to make solar more affordable
Canberra makes strides toward carbon neutrality
GTM puts solar's massive growth in perspective
Examining Australia's falling solar PV rooftop prices
Australia's shift toward renewable energy picks up the pace
Australia shines at solar decathlon
University of Queensland tapped as lead researcher on massive solar project
100 per cent renewable energy is possible in 10 years, environmental group says
Climate Commission releases report on solar progress
Aussie government actually shows spine for solar power
Be gone, skeptics: One million solar installations and counting
Australia embarks on its greatest solar journey ever
Australia looks to solar thermal for commercial success
Solar power helps King Island reach 100% sustainability
Australians 'heavy supporters of solar power'
Mildura solar plant officially unveiled
Solar power trumps other renewables in Australian minds
Sunshine Coast solar farm "fantastic initiative"
Sunshine Coast cashes in on namesake with solar plans
Energy storage 'could maximise solar power utility'
Solar powered family car - a world first?
Code of conduct for solar installers in the works
'Stop punishing households' for solar PV
Australian solar companies 'adjusting well'
Australian mining 'next solar frontier'
"Rooftop revolution" underway across Australia
Global PV market emerging from sluggish period
Royalla solar farm receives final approval
Leadership challenge a "debacle" for Australian solar power
Solar power giving global renewables a helping hand
Australia's largest CPV solar power plant up and running
Renewable energy misinformation "staggering"
CEC: Don't underestimate consumer desire for solar
Setting energy efficient examples on TV
Solar PV brightening up household bills
World's largest solar powered boat on the move
Climate change is heating up
The global solar power shift
New solar tech win for NSW
Industry orgs praise City of Sydney solar efforts
Clean Energy Council supports Regional Renewables scheme
Asian nations emerging as PV leaders
Solar PV demand continues to grow
Regional areas of Australia to receive more renewables
Australia's significant renewable energy growth
Solar panel reprieve for Queensland
New funding for solar research
Find love with sustainable speed dating
New Victorian solar power deal