Global clean energy finance and investment grew to $243 billion in 2010, a 30 percent increase from the previous year. China, Germany, Italy and India were among the nations that most successfully attracted private investments, according to new research released by The Pew Charitable Trusts.
China's record $54.4 billion in investments in 2010 represented a 39 percent increase from 2009. Germany was second in the G-20, up from third last year, after experiencing a 100 percent increase in investment to $41.2 billion.
The United States, which had maintained the top spot until 2008, fell another rung in 2010 to third with $34 billion. The United Kingdom experienced the largest decline among the G-20, falling from fifth to 13th. The report suggests that uncertainty surrounding clean energy policies in these countries is causing investors to look elsewhere for opportunities.
Italy attracted $13.9 billion in clean energy financing last year, improving its global standing to fourth, from eighth in 2009. Italy is the first country to achieve grid parity, or cost-competitiveness, for solar energy, the report said. India joined the top 10 ranking, attracting $4 billion, a 25 percent increase.
Wind power continued to be the favored technology for investors at $95 billion. However, the solar sector saw investments grow 53 percent to $79 billion and more than 17 GW of new generating capacity globally. Germany accounted for 45 percent of global solar investments.
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