Posted on: 24/07/2018
Global investment in renewable energy and energy efficiency fell by 3% in real terms during 2017, according to the latest figures from the International Energy Agency (IEA).
The amount of cash being pumped into renewables fell by 7% and the agency warned of a further slowdown this year.
The IEA blamed policy changes in China for a slowdown in solar power installation.
While investment in energy efficiency increased, it was not enough to offset the decline in renewables.
Fatih Birol, the IEA’s Executive Director, said: “Such a decline in global investment for renewables and energy efficiency combined is worrying.
“This could threaten the expansion of clean energy needed to meet energy security, climate and clean-air goals.
“While we would need this investment to go up rapidly, it is disappointing to find that it might be falling this year.”