Private investment and finance for wind power declined last year, offset by a surge of interest in solar energy, according to research.
Analysis by the Pew Charitable Trusts of the G20 nations revealed a 15% decline in global wind investment between 2010 and 2011, despite a 6.3% increase in private investment in renewable energy technology worldwide.
Solar was the main beneficiary of this general upturn, enjoying a 44% increase in investment to $128 billion and accounting for more than half of all clean energy investment among G20 members.
Overall, investment and finance for renewable energy technology among the G20 stood at $230 billion last year.
Within this global picture the United States is now the world leader, overtaking China to reclaim its position as the top destination for private clean energy investment and finance.
China secured $45.5 billion investment in clean energy last year, spurring the deployment of 20GW of wind power – the most of any country. Germany ranked third among the G20, attracting $30.6 billion.
The full report is available here