Americas to pour USD 816bn into renewables by 2030 - BNEF

Jul 1, 2014 - The Americas region is forecast to invest USD 816 billion (EUR 596bn) in renewable energy sources during the next decade and a half, Bloomberg New Energy Finance (BNEF) says in its latest report.

Rooftop photovoltaics (PVs) and onshore wind are seen to lure investments of USD 231 billion and USD 200 billion, respectively. A smaller amount will go for hydropower capacities, mainly in Latin America, as well as for biomass-to-power, offshore wind and large-scale solar.

The US alone is estimated to boost its renewable power capacity by 275 GW between now and 2030, small-scale solar and onshore wind in particular. In the meantime, Latin America is expected to install 102 GW of new solar capacity, mainly small-scale rooftop PV, as well as 71 GW of wind power and 103 GW of hydro and biomass power.

The renewables share of electricity generation in North, Central and South America is projected to jump to 28% in 2030 from 7% in 2012. This excludes the contribution of hydropower.

BNEF calculates that global investments into renewable energy capacity will reach USD 5.1 trillion by 2030.

(USD 1.0 = EUR 0.731)

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