Overall Investment Down But Global Renewable Capacity Surges To Record Levels
As the cost of clean technology continues to fall, the world added record levels of renewable energy capacity in 2016, at an investment level 23 percent lower than the previous year, according to new research. For instance, new investment in solar totalled $113.7 billion, down 34 percent from the record high in 2015, yet solar capacity additions rose to an all-time high of 75 gigawatts. “The investor hunger for existing wind and solar farms is a strong signal for the world to move to renewables,” said Prof. Dr Udo Steffens, President of Frankfurt School of Finance & Management, commenting on record acquisition activity in the clean power sector, which rose 17 percent to $110.2 billion.
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