According to REN21, investment in renewable energy declined across the world for the second consecutive year in 2013.
Total investment still reached an impressive $214 billion but this is 12 percent down on 2012 and 23 percent less than in 2011. Much of the decline can be attributed to falling technology costs. Take solar installations for example - they have experienced impressive improvements in efficiency while their cost has also dropped off.
Uncertainty about incentive policies in Europe and the United States is also a major factor for the slump in investment. European renewable energy investment was actually down 44 percent on 2012 with China putting more money into green energy projects than all European countries combined. It isn't all negative news though. Developing countries are making major progress in renewable energy development and they are beginning to close the investment gap with their developed counterparts.
This chart shows new investment in renewable power and fuels worldwide.
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