Investment in renewable energy worldwide dropped to $27 billion in the first quarter, down 28% from the fourth quarter of 2011 and the lowest quarterly total since the first three months of 2009, according to a report from Bloomberg New Energy Finance. The report cited uncertain tax policies in the U.S. and spending cuts in the EU for the slump. "The weak first-quarter number reflects the destabilizing uncertainty over future clean-energy support in both the European Union, driven by the financial crisis, and the U.S., driven by the expiry of stimulus programs," BNEF CEO Michael Liebreich said.

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