Investment volumes around the world in renewable energy are for the first time higher than fossil-based energy sources. This is what current findings by the Bloomberg New Energy Finance (BNEF) research institute are showing. The attractiveness of renewables as a long-term investment option is continuously growing, due to the current favourable prices for photovoltaic systems and wind turbines. The growing demand is also apparent at Intersolar Europe: Around 40,000 visitors are expected at the world’s leading specialist trade fair for the solar industry and its partners.
There is for the first time greater investment around the world in renewable energy than in fossil-based energies. Despite lower prices for fossil-based energy sources, investments in renewable energies enjoyed continuous growth between 2004 and 2015. In 2015, global investments in renewables reached an amount of USD 329 billion, overtaking fossil-based energies which attained a volume of USD 253 billion.
Attractive for new investors: Low prices for renewables
The reason for the surge in investments is the costs: Prices for photovoltaic modules have dropped since 2008 by around 80 percent, and for wind turbines by around 50 percent. Large photovoltaic power stations are particularly competitive in the power range from 60 MW, with electricity generation costs between 0.05 and 0.08 USD/kWh. Although prices for fossil-based energies also sank between 2014 and 2016, the G7’s decision in 2015 to decarbonize the energy sector in the G7 countries by 2050 will necessitate a realignment in the area of climate protection. Renewables are therefore a safe and sustainable investment option.
Intersolar Europe 2016
The growth in new investments in renewable energies shows clearly that energy trends are moving in the direction of renewables. This development also gives rise to a demand for storage technologies and energy management solutions. Over 1,000 exhibitors will be presenting their innovations in renewable energy, grid integration, energy storage, intelligent energy consumption and energy management at Intersolar Europe 2016. The main focus will not only be on solar energy, but also on renewable energy supply as a complete system.