While the 2018 figure is down 8% on 2017, the collapse in capital costs for wind and solar power suggest that 2018 was another banner year for the deployment of clean energy.

The latest figures comes from BloombergNEF’s annual assessment. Despite a decrease of 32% from 2017 China was again a clear leader in 2018 with total clean energy investment of $100.1 billion from a country-perspective. The U.S. followed at $64.2 billion, up 12%.  While the US market showed an increase over 2017, the figures for investment in China simply reinforce the idea that China is targeting global dominance in the sector, according to Forbes.

There were sharp contrasts between clean energy sectors in terms of the change in dollar investment last year. Whereas wind investment rose 3% to $128.6 billion, solar dropped by 24% to $130.8 billion – a result partly due to sharply declining capital costs.  2018 saw record new photovoltaic capacity added, breaking the100GW barrier for the first time.

Wind investment rose 3% to $128.6 billion, with offshore wind having its second-highest year. Money committed to smart meter rollouts and electric vehicle company financings also increased.