Europe Is Losing Its Reputation as a Renewable Energy Leader
- Clean energy investment in Europe slipped 21% last year
- China and other Asian economies surpassing Europe and U.S.
The sun sets beyond wind turbines near Fjerritslev, Denmark.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
Europe is losing its status as a global leader in clean energy, with investment in the region plummeting 21 percent last year, while spending in the rest of the world boomed.
A record $328.9 billion was invested worldwide in solar, wind and other renewable energy sources in 2015, according to a report released Tuesday by REN 21, an international coalition of governments, renewable energy trade associations and financial institutions including the World Bank Group. Spending in Europe was $48.8 billion, down from $62 billion a year earlier.