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Investment in renewable energy dips globally

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BioTherm wind farm at Dassiesklip. (Photo: Supplied)
BioTherm wind farm at Dassiesklip. (Photo: Supplied)

Berlin - A UN-backed report says global investments in renewable energy fell by almost a quarter last year amid a drop in prices and lower spending in some markets.

The United Nations Environment Program said on Thursday that overall investments reached $241.6bn last year, down from $312.2bn in 2015.

Still, investors got more bang for their buck: renewable energy capacity grew 8% to 138.5 gigawatts from 127.5 gigawatts the year before.

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