Investment in Renewable Energy Dives Globally, Prices Fall
A UN report says global investments in renewable energy fell by nearly 25% last year amid a drop in prices and lower spending in some markets.
The United Nations Environment Program said last week that overall investments reached $241.6-B last year, down from $312.2-B in Y 2015.
Renewable energy capacity grew 8% to 138.5 gigawatts from 127.5 gigawatts the year before, because the price of installing solar, wind and other systems for generating renewable energy fell last year.
China invested less than the previous year for the 1st time in over 10 years. US investment also dropped by 10%.
European electricity industry association EURELECTRIC announced Tuesday its 3,500 members will not invest in new coal-fired power plants after Y 2020.
The situation is very different in the US.
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