Over the past 12 months, the global clean-energy picture has a been a classic good news-bad news story, with dazzling growth, success stories, and soaring stock prices in some sectors – most notably solar PV deployment – but downward trends and policy and finance hurdles in others. As the industry continues to mature and makes its presence felt among decades-old, fossil-fuel energy sources, it faces a host of new challenges and opportunities. Among these are a transition away from early-stage venture capital investments to corporate and later-stage project financing sources; the shift away from nuclear power in Germany, Japan, California, and elsewhere; and pushback from some utilities and regulators who perceive distributed generation as a significant threat to long-established business models.

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