New investment in clean energy in developing countries dropped by more than a fifth last year, shrinking from $169 billion in 2017 to $133 billion in 2018, according to data from Bloomberg New Energy Finance.
New investment in clean energy in developing countries dropped by more than a fifth last year, shrinking from $169 billion in 2017 to $133 billion in 2018, according to data from Bloomberg New Energy Finance. At the same time, the amount of electricity these nations were getting from coal-fired power plants hit a record high — 6,900 terrawatt-hours, or 47 percent of all power generation.
Analysts say the decline in clean energy financing is largely due to a slowdown in China, which invested $86 billion in wind, solar, and other carbon-free technology in 2018, down from $122 billion in 2017. India and Brazil also slashed spending for new renewable energy, cutting $2.4 billion and $2.7 billion, respectively.
Read more at Yale Environment 360
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