Clean energy investment slid 22 percent to its lowest level in four years as nations pared subsidies for technologies from wind turbines to solar power and financing in China and Brazil stalled.
The $40.6 billion invested in the industry in the first three months of this year was lower than any quarter since 2009 and compares with $52 billion in the same period last year, according to data compiled by Bloomberg New Energy Finance.
“The last 18 months have seen a number of significant support programs launched in the aftermath of the financial crisis come to an end,” said Michael Liebreich, chief executive officer of the London-based research company.
The decline indicates the pressure on wind and solar power manufacturers from Yingli Green Energy Holding (YGE) Co. Ltd. to Vestas Wind Systems A/S (VWS), which are suffering from a plunge in prices due to increased competition and excess production capacity. Photovoltaic modules in March were 81 percent below the 2008 levels.
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