According to the IEA’s World Energy Investment report, investment in electricity finally surpassed investment in oil and gas in 2016, for the first time in recorded history. As spending on new fossil fuel projects fell twenty-six percent in 2016, continuing a trend of declining investment that began with the collapse of prices in 2014, investment in electricity networks, energy efficiency and renewable energy output rose.

Source: Falling Costs Push Renewable Investment Ahead Of Fossil Fuels | OilPrice.com