Wind and solar drawing more capital than fossil fuels Solar costs have plunged 60 percent on average since 2010 Renewables provided more bang for the buck last year because the cost of installations and financing declined, helping reshape the direction of the energy industry for decades to come, the International Energy Agency said. The capacity of new renewable-energy installations coming online surged 40 percent in five years even though investment in those technologies slid 2 percent to $288 billion, the Paris-based institution said in a report released on Wednesday. The findings indicate the world is shifting slowly toward less-polluting forms of energy, helping policymakers develop in the poorest areas while limiting greenhouse-gas emissions blamed for global warming. While investment in fossil fuels fell, reflecting a drop in oil, natural gas and coal prices, it’s improving technology that was responsible for the decline in renewables. “The critical importance of energy […]