Clean Energy Spending Drops Most on Record as China Slows Growth
- Global invesments tumbled 18% to $287.5 billion, BNEF says
- With prices for wind and solar sliding, capacity swelled 19%
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Global investments in renewable power dropped the most on record in 2016 as demand in China and Japan faltered.
Worldwide spending on clean energy fell 18 percent from 2015’s record high to $287.5 billion, according to a report Thursday by Bloomberg New Energy Finance. It was the first decline since 2013 and comes as environmental policies face pressure from populist movements that have fueled the rise of Donald Trump, the U.K. Independence Party and others.