More gigawatts of renewable energy were installed worldwide in 2016 than in any previous year, according to a new report.
The Global Trends in Renewable Energy Investment 2017 report shows the costs of solar and wind energy continue to fall dramatically. But it also documents a slowdown in investment in several major countries.
A total of 138.5 gigawatts of wind, solar, biomass and other renewable sources were installed worldwide last year, the report says, up 8 percent from 2015.
Clean power accounted for 55 percent of all new energy generation. That's the highest proportion ever, and the second year in a row in which renewables made up the majority of new installations.
Investment in renewables fell by 23 percent, however. That's partly because of good news.
"A lot of that is due to lower costs," lead author Angus McCrone, chief editor of Bloomberg New Energy Finance, told VOA. Onshore wind power, offshore wind and solar are by far the dominant technologies, and "all of them fell in price by at least 10 percent. That's a big part of the reason why you had capacity up and investment down."
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