The annual report by the Pew Charitable Trusts found that China reclaimed from the United States its place as the nation with the most clean energy investment, which climbed 20 percent from a year before to $65.1 billion.
But worldwide investment declined 11 percent last year because of factors including economic woes in Europe, political sensitivities about energy prices in Germany and uncertainty over the extension of a tax credit in the United States, it said.
At the same time, the clean energy industry installed a record 88 gigawatts in capacity last year as prices for the technology declined.
“That’s the interesting thing—we had an investment decline but we still had more gigawatts installed than we ever had,” said Phyllis Cuttino, director of the clean energy program at the Pew Charitable Trusts.
“So the investment dollar is going further and that’s particularly true with solar,” she said.
For the second consecutive year, solar topped wind energy in investment as costs due to rapid declines in price.
Read more at: Phys.org