Climate Changed
Clean Energy Investment Drops 17% as China and U.S. Scale Back
- BNEF reports declines in offshore wind, Brazil and India
- Bright spots ranged from Tesla to Mexico, Japan and Germany
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Clean-energy investment fell 17 percent in the first quarter, keeping pace with last year’s decline, as the U.S. and China both scaled back support for wind and solar farms.
The $53.6 billion funneled into projects such as renewable energy, efficiency and electric cars during the first three months of the year marked the lowest investment for the quarter since 2013, according to Bloomberg New Energy Finance. A surge in financing for large offshore wind projects at the start of last year wasn’t repeated in 2017.