Australian clean energy investment was $4.29 billion in 2016 – an increase of almost 50% compared with 2015. However, the level of investment fell short of the over $5 billion levels reached between 2010 and 2013.
According to Bloomberg New Energy Finance, there was at least $1.81 billion of wind and $451 million of commercial solar financings.
The amount of installed capacity rose 1.4% to 725 megawatts.
Worldwide, new investment in clean energy fell to $us287.5bn in 2016, 18% lower than the record investment of $us348.5bn in 2015 and 9% lower than the $us315bn invested in 2014. The fall was largely due to reductions in investment in new large-scale projects in Japan and China, following record years and also to falling equipment costs meaning that less investment is needed for the same output.