Investment in renewable power fell 7% last year to around $300bn, according to the International Energy Agency’s World Energy Investment report.
The fall was partly attributed to falling costs that have made renewables more affordable, IEA said.
However, despite the fall in investment, clean power accounted for two-thirds of overall power generation spending last year, it added.
Investment in offshore wind and solar reached record levels, but there was a 15% decline in the onshore wind sector mainly in Brazil, China, Europe and the US.
IEA again attributed part of the drop in onshore investment to falling costs.
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RE investment ‘falls 7%’
By EBS