The silver lining for shrinking energy efficiency investments

Global investments in renewable sources of energy fell 14 percent from 2012 levels, according to a new report. While this might seem like bad news on the surface, as funding has fallen a total of 23 percent from record-level investments in 2011, the information in the report is actually good news. In 2013 alone, there was $214.4 billion spent on energy efficient technologies.

While this number is smaller than in years past, it is a silver lining according to some experts. The report was a joint effort from the United Nations Environment Program (UNEP), Frankfurt School-UNEP Collaborating Centre for Climate and Sustainable Energy Finance and Bloomberg New Energy Finance. The reason that the number has dropped off so dramatically over the last couple of years is that energy efficient technology is now more affordable, so individuals do not have to spend as much on green energy.

According to Bloomberg New Energy Finance, the average price of having a solar photovoltaic (PV) panel installed in the United States dropped 60 percent in two years, which means that homeowners all over the country can get more solar power for their homes for less money. The dropping amounts of investments do not signal a shift away from clean energy that has proven popular recently, but it simply means that it is less expensive to set up the system, so it is more accessible for the general population.

While this is good news for the environment, experts acknowledge that there is a long way to go to get the entire world running on renewable sources of energy. If you want to increase the energy efficiency of your own home, having residential window films from R&J Tinting is a great way to begin.