The2014 Global Trends in Renewable Energy Investment report says that despite a remarkable increase in renewable energy installations investment dropped in absolute terms by 14% in 2013. The report called Global Trends in Renewable Energy Investment was published by the United Nations Environment Programme (Unep) and Bloomberg New Energy Finance. According to the report, renewables accounted for 43.6% of newly installed generation capacity in 2013. However, the decline of worldwide investment in the renewable sector of 35.1 billion was partly down to the falling cost of solar photovoltaic systems and a lack of clear policies in some countries. One of the report's lead editors, UN energy expert Eric Usher, identifying the reasons behind the fall in investment, explained: "One of the major factors was the fall in the cost of equipment. Another negative factor was a touch of policy uncertainty, which saw investors delay spending their money.” Mr Usher observed that there were a number of positive signs during 2013, including the fact that the renewable energy sectors in a number of nations, particularly in Latin America, were able to grow completely free of government subsidies. Also the fact that, for the first time, China installed more new generation capacity using renewables than fossil fuels it is a good sign for the sector. “A long-term shift in investment over the next few decades towards a cleaner energy portfolio is needed to avoid dangerousclimate change, with the energy sector accounting for around two thirds of total greenhouse gas emissions,”said Unep executive director Achim Steiner.“The fact that renewable energy is gaining a bigger share of overall generation globally is encouraging. To support this further, we must re-evaluate investment priorities, shift incentives, build capacity and improve governance structures”, he added. The gLAWcal Team Monday, 7 April 2014 (Source: BBC News)