The last few years have been marked by spectacular advances for green energy generation. In 2015, $348 billion was invested in renewables, and total worldwide installed capacity overtook coal. In 2016, U.K. generation from wind was higher than coal for the first time. Meanwhile, the costs of solar power continued to tumble, with estimates suggesting a fall of at least 75% since 2008.
However, investment fell sharply in 2016, even though overall levels of investment need to triple to get anywhere near the targets set in international environmental agreements that followed the 2015 United Nations deal on climate change in Paris.