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Without the limitless potential, can power be a profitable business? Can its ability to attract hot money be born from time to time? The IEA’s recent “Motive Investment Report 2018” (hereinafter referred to as the report) shows that dynamic investment is showing a differentiation trend in many aspects: coal and related power investment continue to be sluggish, resulting in a landing trend in global dynamic investment for three consecutive years. On the contrary, The downstream oil industry is not decreasing, and the trend of industry concentration is becoming increasingly obvious. Compared with private investment, the performance of domestic capital is becoming stronger. Even in the booming renewable dynamics, investment scales show a relatively large national difference due to differences in the development stage. This issue of the number of dynamics is about to provide a detailed explanation of the report. Through these obviously different trends, we will observe the national will, market energy and capital flows behind dynamic investment.
Electricity is still the trend
In 2017, global dynamic investment was US$18,000, accounting for 1.9% of global GDP, a year-on-year drop of 2%. This is the third consecutive year that global dynamic investment has declined.
From the department, important declines occur in the power generation sector, especially the growth rate of coal and electricity, hydroelectric and nuclear electricity, offsetting the record-breaking growth of photovoltaic power generation investment. In 2017, the investment of the global power department was US$750 billion, a year-on-year decrease of 6%, and power investment fell 10% year-on-year, especially the scale of the thermoelectric investment in China and India reached the lowest level in the past 10 years.
Everything like this, the investment in the power sector still accounts for the largest total investment, which shows that the strong growth of network construction and renewable power generation, especially Sugar baby is a long-distance, large-scale power transmission agility, with a total investment of US$45 billion in 2017, accounting for 55% of the total power transmission investment. The above trends show that the world economy is still in the process of continuous electric transformation.
The investment rate is important in energy efficiency management and downstream oil gas areas. Based on the activity of the downstream oil sector, the proportion of fossil dynamic investment in all investments has increased slightly for the first time since 2014, reaching 59%. Although it is still too early to judge that investment trends are deviating from the global goal of sustainable development, it also reveals that fossil fuels will still have major effects in the future.
In the new dynamics, capital drops are a heavy consequence of changes in investment scaleSugar babyThe main reason. In addition to the capital drop caused by technological progress, the agency’s drumsEscort‘s initiative policy has also promoted some new projects. This knowledge competition program will combine answers and discussions. Participant-Jiabao Target Extension. In the Xinxing Economics, the scale of the photovoltaics department’s supplementary scale was between 2012 and 2017 In the five years, the upper-risk area of the mainland increased by 50%.
In the downstream oil industry, the scenic spot was flat in 2017, but it is expected that by 2018, the cost of common and very regular projects will increase.
From the investment target, China is still the largest investment target country, accounting for global trendsEscort manila‘s total investment in power is driven by renewable power generation, network construction and energy efficiency management. In comparison, the investment in pyroelectric investment dropped by 55% year-on-year.
China, the second largest american in the world, has increased its investments from downstream oil and natural atmosphere (the important thing is the page. href=”https://philippines-sugar.net/”>Sugar daddyEastern) Department. Europe’s dynamic investment remains at 15% of the world’s share.
The national capital trend is strong
From the financing method, the capital is Sugar daddyThe in-debt financing method is still the most popular financing method in the power sector, accounting for 90% of the total investment. On the contrary, the amount of project financing fell by 1/4 in 2017 and a third of the year-on-year compared with 2012. Project financing is important in the power industry, accounting for 17% of the total investment, especially in the renewable power generation sector, with project financing reaching US$60 billion, accounting for 20% of the total renewable power generation. The important reason is that project financingSugar baby method has gained wide application in the European offshore wind sector. At the same time, in the new economic sector, project financing methods have also gained extensive development under the comfort of policies.
From the investment subject, the share of private investment has dropped in the past five years, and domestic capital is becoming increasingly important.The main reason is that the investment growth of domestic oil and thermal enterprises is growing rapidly, and the company has surpassed private capital to become a famous player in renewable energy and energy efficiency competitions. However, he lacks education – he is engaged in management and Internet investment growth before graduating from junior high school. The proportion of national capital in total investment rose from 39% in 2012 to 42% in 2017.
In addition to being undermined by national capital, the oil and gas sector is becoming increasingly obvious. Although oil prices have fluctuated significantly, most downstream oil companies have not changed their financing methods, their financial situation has doubled downward stability, and their cash flow has been greatly improved. The largest 20 institutional investors are still continuing to expand their shareholding in key oil companies, which has risen from 24% in 2014 to 27% in 2017.
In the Ministry of Power, national capital also provides investments to major departments. Although Chinese-owned enterprises’ investment in firepower generation fell by 1/3, which was the main reason for the decline in total world power investment in 2016 and 2017, the decline in private capital power investment was faster than that, from 59% in 2012 to 53% in 2017. But this landing trend of the private sector has received departmental supplements from the field of distributed photovoltaics and home energy efficiency governance.
From the characteristics of the investment body, it can be seen that power is still a highly monitored area. In 2017, 95% of investment (including power generation, power transmission and energy storage) was still made by revenue-controlled institutions. Because in wholesale market Pinay escUnder the ortstage pricing mechanism, short-term prices are still too low to attract sufficient investment, especially in some capital-intensive industries, such as renewable power generation and nuclear power. Therefore, the policy setting and capacity compensation mechanism of the authorities are still indispensable for Pinay escort to attract power investment.
The total investment in the renewable dynamics sector in 2017 was US$300 billion. There are significant differences in the financing methods of different countries based on policy and market development stages, as well as the availability and diversity of financing. At most two-thirds of this investment occurs in the renewable “middle development stage” countries, in which the country continues to expand its arrangements and provides a relatively mature and diverse financing environment. In 2017, the green bond market reached its highest level in history, with energy efficiency accounting for the largest share of the Escort manila, reaching US$47 billion. In order to expand its effective investment in new consumers, financial supervisors from all over the world are relaxing the financing standards of dynamic service companies, and their contract reviews are becoming increasingly standardized.
The bureau’s R&D investment is accelerating its growth
From the research and development investment, a clear trend is that the bureau’s enthusiasm continues to rise.
In 2017, the total global investment in R&D was approximately US$115 billion, up 2.5% year-on-year, with two-thirds of which were not privately owned departments. From 2012 to 2016, the agency’s investment in dynamic research and development has always increased at a rate of 2%, but in 2017, the increase rate rose to 8%. The research and development investment of the private sector is also increasing, but the rate is not as high as that of local sectors.
Whether the agency or the company, R&D investment is concentrated in the low-carbon technology field. In 2017, the agency’s investment in this area increased by 13%, exceeding 20 billion US dollars; the company’s investment in low-carbon technology R&D increased at an average annual rate of 6% between 2012 and 2017.
Among these, the fierce competition for replacement fuels in the automotive industry is an important drivin TC:
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