Global investment in renewable energy and energy efficiency fell by 3% in real terms during 2017, according to the latest figures from the International Energy Agency (IEA).

The amount of cash being pumped into renewables fell by 7% and the agency warned of a further slowdown this year.

The IEA blamed policy changes in China for a slowdown in solar power installation.

While investment in energy efficiency increased, it was not enough to offset the decline in renewables.

‘Worrying’ decline

Fatih Birol, the IEA’s Executive Director, said: “Such a decline in global investment for renewables and energy efficiency combined is worrying.

“This could threaten the expansion of clean energy needed to meet energy security, climate and clean-air goals.

“While we would need this investment to go up rapidly, it is disappointing to find that it might be falling this year.”

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