Green power investments down 23% to $241.6b

This is due to dropping costs of renewables equipment.

Retuers reported that record levels of renewable energy capacity were added across the world in 2016 but the falling costs of green power equipment led to a 23 percent decline in money spent on investments, UN-backed research showed on Thursday.

Wind, solar and other renewables capacity totaling 138.5 gigawatts (GW) was added to global power generation capacity last year, 8 percent more than in 2015, a Frankfurt School of Finance report said.

But investments to achieve this totaled $241.6 billion, compared with $312.2 in the previous year, mainly due to falling equipment costs as technologies mature, and economies of scale.

View the full report here.