The report finds:

• Renewable energy capacity has grown at record-high levels, even as investment has dipped in dollar terms in 2016. Investment levels are highly responsive to policy changes.
• Offshore wind investment has risen steadily – quadrupling in 2013-2016 – and is poised for further growth.
• Private sources provide the bulk of renewable energy investment globally – over 90% in 2016. Conventional debt and equity are the most prominent financing instruments.
• But public finance can play a key enabling role – covering early-stage project risk and getting new markets to maturity. Public spending onpolicy implementation far outweighs public investments.
• Project developers account for about two-fifths of private investment in the sector. Institutional investors – pension funds, insurance companies, sovereign wealth funds and others – only make up less than 5% of new investments.
• Private investors overwhelmingly favour domestic renewable energy projects (93% of the private portfolio in 2013-2015), whereas public investment is more balanced between in-country and international financing.