$63.6 billion renewable energy investment for Q2 2014

Bloomberg New Energy Finance has released some promising numbers regarding clean energy investments around the world.

$63.6 billion was invested in the second quarter of 2014, which was an improvement of 33% over the first quarter of 2014.

It was also a 9% improvement over the second quarter for 2013. The record was $78 billion in the second quarter of 2011.

The 600 MW Gemini offshore wind farm near the coast of the Netherlands was the largest single deal at $3.8 billion. Israel’s 121 MW Ashalim I Sun Negev concentrated solar thermal project came in at $818 million.  Mexico’s 252MW Cemex Ventika wind farm was a $647 million deal.

The following three countries were investment leaders:

China, $19.3 billion
Europe, $14 billion
US, $10.6 billion

Small-scale solar financing increased 41% over the second quarter of 2013. Solar parks, wind farms and small hydro dams were the top asset class, with financing of just over $38 billion. Venture capital and private equity investment increased 42% over the second quarter of 2014. The increase over the second quarter in 2013 was 36%.

That China is investing billions more than the United States is disappointing, considering that the US has historically been a leader in technological innovation. Of course, it isn’t only China: Europe is well outpacing the US, too. The US has been in a leadership position in many key fields, but it doesn’t seem clean energy is going to be one of them for some time.

Energy investment is for the long-term and since fossil fuels don’t seem to be the direction to continue pursuing, it makes more sense to keep investing in clean sources.