Clean-energy investment leaps by 16% to $310B By Anamaria Deduleasa Recharge News in London Friday, January 09 2015
By Anamaria Deduleasa in London
Friday, January 09 2015
Updated: Friday, January 09 2015
Global clean-energy investment rose by 16% to $310bn last year, due mostly to China's support for solar and record spending on wind farms.
For the first time in three years, new funds for wind, solar and other low-carbon technologies increased, according to data compiled by Bloomberg New Energy Finance.
Almost half of the investment went into solar, which rose 25% to $149.6bn last year, its highest share ever, while funding for wind grew by 11% to $99.5bn, largely because of support for huge offshore projects.
China was the biggest contributor, increasing its investment by 32% to $89.5bn, to become the top market for solar and one of the largest for wind.
The US boosted investment by 8% to $51.8bn (the most since 2012), while Japan, which has become the second-biggest solar market, lifted funding for renewables 12% to $41.3bn.
In Europe, which led the industry in installations in the first decade of this century, investment grew 1% to $66bn despite funding for offshore wind.