Despite a record year for offshore wind finance, new global investment in renewable energy dropped by 18% last year to $287.5 billion, according to recent research.
Data from research firm Bloomberg New Energy Finance indicate what it calls “a marked cooling in two key markets – China and Japan”. Renewable energy investment in China was $87.8 billion, or a decrease of 26 % comparing to the all-time high of $119.1 billion attained in 2015, while the equivalent figure for Japan was $22.8 billion, a decline of 43%. The capital spending commitments hit $29.9 billion for offshore wind in 2016, or up 40% on the previous year.
Even though total investment in renewable energy fell in 2016, the overall capacity installed was not. BNEF’s analysis teams estimates are that a record 70 GW of solar were added last year, or an increase from 56 GW in 2015, plus 56.5GW of wind, down from 63GW but the second-highest figure ever. [emp]
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