Climate Changed
The World Is Spending the Least on Clean Energy in Six Years
- Renewable project financing down 14% from first half of 2018
- BNEF sees spending rebounding as China holds power auctions
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Worldwide investments in clean energy projects have hit a six-year low.
Global spending totaled $117.6 billion in the first half of 2019, down 14% from a year earlier and the least since 2013, according to a report by BloombergNEF. Investments slowed in all three major markets -- the U.S., Europe and China -- but China’s decline was especially pronounced as the country continued its shift away from subsidies for solar and wind power.