Clean energy investments slump as subsidies drop
Asian governments scaling back incentives to constrain boom in installations
Tokyo
THE green-energy industry is starting to feel the impact of an efficiency drive sweeping Asia, where governments from China to Japan are scaling back subsidies to constrain a boom in installations.
Investment in clean-power technologies in Asia slumped 41 per cent to US$70.1 billion in the first nine months of the year, according to Bloomberg New Energy Finance, which hosts a conference on the issue in Shanghai starting Tuesday. It's the first decline in the modern history of an industry that's barely a decade old. The ability of those plants to produce electricity is on track to surge 13 per cent, the research group said.
The findings underscore the concern of authorities about their ability to integrate a burgeoning number of wind and solar farms, which have strained the capacity of electricity grids. Officials are getting smarter about how they stimulate the industry, threatening to slow growth in what has been some of the biggest markets for manufacturers …
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