Public market investors bullish on wind and solar
FRISCO — Renewable energy stocks made a big global comeback in 2013, gaining 54 percent after a 4.5 year slide during which they lost 78 percent in value, according to a new report released by economists in Frankfurt, Germany.
The improvement happened as many companies in the solar and wind manufacturing chains moved back towards profitability after a painful period of over-capacity and corporate distress, according to experts with the United Nations Environmental Program.
The 2013 improvements came despite a significant dip in investments in the renewable energy sector — the investment drop of $US35.1 billion was partly down to the falling cost of solar photovoltaic systems. The other main cause was policy uncertainty in many countries, an issue that also depressed investment in fossil fuel generation in 2013. Continue reading