Overall, the Clean Energy Program achieved the target of investing $2 billion annually in clean energy starting 2013, as indicated in the ADB Energy Policy 2009.34 Total clean energy investment in 2018 was about $1.4 billion. This was due to the declining cost of renewable energy, and the maturity of the renewable markets with increasing commercial financing. At the same time, ADB increased its financing on transmission and distribution networks that are needed to integrate more renewable energy.
Annual investment in clean energy averaged $2.01 billion annually from 2008 to 2018, which is higher than the $700 million baseline.35 Cumulative investments in clean energy amounted to $22.12 billion for the said period.
Renewable Energy.
Investments in renewable energy had the biggest share at 58.7% of the total investments in clean energy for 2008 to 2018, while energy efficiency had 38.0% and cleaner fuel 3.3%. Cumulative investments in renewable energy amounted to about $12.99 trillion from 2008 to 2018.
Hydro had the largest share at 36.2% of the total renewable energy investment for 2008 to 2018.
Solar, which comprised many small-scale projects, followed closely with 26.0%, then wind at 15.4%, biomass and waste at 9.7%, and geothermal at 9.3%.
The additional renewable energy capacity averaged 1.29 GW annually in the same period, which is almost triple the baseline of 0.47 GW.
Cumulative installation of additional renewable energy capacity reached 14.22 GW from 2008 to 2018.
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