Clean energy investments dropped 17 percent in first quarter

A downturn in the US and China paired with the lack of British offshore wind turbines has resulted in a decline in global investments in renewable energy, according to new data. However, the future still holds promise.

Over the first three months of this year, a sum of USD 53.6 billion (EUR 50.4 billion) was invested around the world in renewable energy such as wind, solar, and biomass. This is 17 percent less than during the same period last year and it is the lowest amount for a first quarter since 2013, according to a study by Bloomberg New Energy Finance (BNEF).

There is a multitude of reasons for the significant decline. While early 2016 saw the financing decisions made for Hornsea One as well as for East Anglia One, this year – two and a half years after the last tender – counted practically zero British offshore wind turbine projects in which it would be possible to make technical investments. Yet this will change as the UK is currently preparing a new round of bidding.

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