New clean energy 2009 investment seen sharply down

LONDON (Reuters) – New investment in clean energy will total $95 to $115 billion in 2009, representing a drop of 26-39 percent from last year’s total of $155 billion, data published by research group New Energy Finance showed on Friday.

The clean energy sector including wind and solar power enjoyed more than fourthfold growth in investment since 2004 but has suffered a sharp fall as a result of the financial crisis.

Investment in the second quarter of the year has already surpassed the first quarter by a third, the group said.

But the first quarter was “disastrous” as investment shrank by 44 percent compared to the fourth quarter and 53 percent from the corresponding period last year.

On the plus side, the first quarter was probably the lowest point for clean energy investment in the economic downturn.

Reuters