Clean Energy Investment Surges to Record in 2010

Phyllis Cuttino, director of Pew's Clean Energy Program, said in a statement, "The clean energy sector is emerging as one of the most dynamic and competitive in the world, witnessing 630% growth in finance and investments since 2004. Countries like China, Germany and India were attractive to financers because they have national policies that support renewable energy standards, carbon reduction targets and/or incentives for investment and production and that create long-term certainty for investors."

Italy moved up from 8^th place to 4^th, garnering $13.9 billion in financing for clean energy programs in 2010. It is the first nation to reach grid parity—cost-effectiveness—for solar energy. India, too, substantially bettered its standing, moving up into the top 10 for the first time with $4 billion in financing, a 25% increase over 2009.

Other findings in the report included:

• Europe led by region, attracting $94.4 billion in investments; Germany was responsible for $41.2 billion and Italy for $13.9 billion
• China led the Asia/Oceania region, which continued to rise sharply bringing in $82.8 billion, a 33% increase over 2009
• While investment growth in the Americas rose 35%, the region still came in a distant third with $65.8 billion
• Small-scale residential solar investments boomed in the G20, adding 100% and coming in at $56.4 billion, with Germany accounting for almost half that; it is followed by Japan, France, Italy and the U.S.
• China accounted for more than a quarter of the world’s total installed generating capacity of 388 gigawatts; that total was reached by an agglomeration of wind, small hydro, biomass, solar, geothermal and marine.