New investment in renewable energy globally increased by 2% last year, to $280bn, still 13% below the record set in 2015. Developing economies accounted for the lion’s share of the spending, with China making up 45% of the global total. Most renewables investment in China is in solar power. It installed 53 gigawatts of capacity last year. European investment fell by 36% because of big declines in Britain and Germany. The closure of subsidy programmes helped drive down investment in Britain; Germany was affected by a shift to auctions for onshore wind power. Mexico’s renewable-energy sector is booming, partly in response to a government target for 13.9% of power generation to be green by 2022.