Report: Clean Energy Investments Hit $333.5 Billion in 2017
Though some countries, including the U.S., have moved to support coal-fired power generation over the past year, investments in renewable energy continued to rise, according to a new report from Bloomberg New Energy Finance (BNEF).
The research group on January 16 said global investment in clean energy such as wind and solar reached about $ 333.5 billion in 2017, a 3% rise from the prior year, and just 7% below the record in 2015. BNEF said about half of all investment went to solar projects, with China accounting for nearly $ 133 billion—or about 40%—of the total investment in renewables. China’s total is 24% more than it spent in 2016, according to BNEF.
The report said two dozen countries invested more than $ 1 billion in clean energy initiatives in 2017. It noted that the falling costs of equipment such as wind turbines and solar panels has opened new markets, and is bringing electrification to areas—particularly in developing countries—where there is limited access to a transmission grid.…