Solar and wind in Germany
Investment in renewables like solar and wind is down, but their share of global power is up
Sean Gallup—Getty Images

Funding for solar, wind and other forms of clean power fell 14% in 2013, largely because it’s now cheaper to adapt to the newer technologies, but that doesn’t mean the shift to renewable energy has fully stopped

On the surface, the new numbers on the global renewable energy industry in 2013 do not look good for the planet. Investment in renewable energy fell 14% in 2013 to $214.4 billion, according to a new report from the Frankfurt School-UNEP Collaborating Centre for Climate and Sustainable Energy Finance, the United Nations Environment Programme (UNEP) and Bloomberg New Energy Finance. And that comes after a year when renewable energy investment was already falling—it’s now down 23% from the record investment levels seen in 2011. Given that recent reports from the Intergovernmental Panel on Climate Change (IPCC) underscore the desperate need to increase the shift from fossil fuel to low-carbon power sources like solar or nuclear, the two-year investment decline is not good news.