Clean-Energy Stimulus Programs Reach $94.8 Billion, BNEF Says

Governments led by China and Japan have spent almost half of their promised clean-energy stimulus funds to date, Bloomberg New Energy Finance said.

Of the $194.3 billion promised to clean and low-carbon energy projects by major economies after the financial crisis, $94.8 billion has so far been allocated, the London-based industry analyst said.

“Higher-than-expected activity” in China and Japan in 2010 accelerated the pace of spending with $74.5 billion deployed in that year alone, New Energy Finance said. Europe and the U.S. remain “on track” with expected clean-energy stimulus spending.

From this year onwards, $99.5 billion remains to be spent on programs that range from small-scale energy efficiency initiatives to larger renewables projects and carbon capture and storage plants, New Energy Finance said.

“Only last year, swings in policy from Spain to the U.S., and China to Germany, had a significant impact on the flows of billions of dollars of investment into low-carbon energy,” the company said as it also started a “policy dashboard” tracking developments in global low-carbon policy.

The tool was a response to the “increasing complexity of the policy and regulatory environment worldwide,” New Energy Finance Chief Executive Michael Liebreich said in the statement.