‘Cheap money’ to speed up global PV, storage momentum

Published onFebruary 27, 2019

Cheaper finance from development players would shorten the renewable transition of many countries and kickstart the local small-scale PV and storage market, according to BloombergNEF (BNEF). The firm published a study this week showing concessional funding would bring cost parity forward by several years for PV and wind producers across emerging markets. This brand of financing – typically loans with more generous terms than those set by the market – could help utility-scale PV outcompete combined-cycle gas one year ahead of schedule in places like Thailand, according to the analysis. The 138-page study, put together by BNEF at the request of the Climate Investment Funds (CIF) initiative, sheds light on the scale of the financing challenge for clean energy players. According to the document, 29GW worth of renewable projects worldwide is seeking funding after winning contracts in auctions. The need is most pressing in Brazil (5.2GW), India (4.7GW), Mexico (4.3GW), Argentina (2.7GW) and Chile (2.6GW).

Source: https://www.pv-tech.org/news/cheap-money-to-fuel-global-pv-storage-momentum