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Clean Energy Gave More Capacity With Less Investment, IEA Says

  • Wind and solar drawing more capital than fossil fuels
  • Solar costs have plunged 60 percent on average since 2010

Renewables provided more bang for the buck last year because the cost of installations and financing declined, helping reshape the direction of the energy industry for decades to come, the International Energy Agency said.

The capacity of new renewable-energy installations coming online surged 40 percent in five years even though investment in those technologies slid 2 percent to $288 billion, the Paris-based institution said in a report released on Wednesday.