What’s Behind The Drop In Renewable Spending?

A marked decline in spending on renewable energy projects during the first half of the year has suggested that wind and solar have yet to become fully competitive with fossil fuel power generation despite the wealth of reports saying they already are cheaper in some parts of the world. BloombergNEF reports that spending on renewable projects between January and June totaled US$117.6 billion, which was 14 percent less than a year earlier and the lowest amount for a comparable period since 2013. The decline was evident in all key renewables markets,…