Global investment in renewable energy fell 8% to $332bn in 2018, as offshore wind had its second-best year, while solar slipped 24% to $131bn, due to a 12% drop in installation costs, according to a report by Bloomberg New Energy Finance (BNEF). The report, which looked at the impact of policies and market conditions on investments across all sectors, said that global clean tech spending was down 7% last year from 2016, with China leading the way for renewables BNEF added that the US east coast was also drawing developer's attention.
Global investment in renewable energy fell 8% to $332bn in 2018, as offshore wind had its second-best year, while solar slipped 24% to $131bn, due to a 12% drop in installation costs, according to a report by Bloomberg New Energy Finance (BNEF). It revealed offshore wind attracted 14% more investment last year at $25.7bn, of which $11.4bn was spent on 13 Chinese schemes, while notable European projects included the $3.3bn, 950 MW Moray Firth East array. BNEF added that the US east coast was also drawing developer's attention.