A significant decline in the cost of PV modules and project construction, as well as a shift from small-scale projects to cheaper capex utility-scale projects, is a main driver for an clean energy investment slowdown in 2016, says Bloomberg News Energy Finance (BNEF).

Total investment for this year is expected to fall “well short” of 2015’s upwardly revised US$348.4 billion; with investment in the Q2 totalling US$61.5 billion – and while this is up 12% from the previous quarter, it is some 32% below the US$90 billion in Q1 2015.

In addition to falling prices, regulatory changes and “weak electricity demand” were pinpointed as further reasons for this year’s poor turnout.

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