Global investment in clean energy hit an all time high in 2010, according to a new report from Bloomberg New Energy Finance. Private and public companies, governments and venture capitalists invested a massive $243 billion into sectors such as solar power and wind power, electric cars (EVs), and many other clean technologies.
The $243 billion figure represents a 30 percent rise from the previous year and almost 5 times the amount invested in 2004.
Well ahead of the United States, China is leading the way with $51.1 billion invested in clean energy in 2010 alone, a 30 percent rise from 2009. The Bloomberg New Energy Finance report maintains that the main drivers of the rapid growth in clean energy investment in 2010 were China, European offshore wind, European rooftop solar and research and development.
Global government research and development spending rose to $21 billion, and corporate clean energy research and development reached $14.4 billion.
Public market investments for clean power reached $17.4 billion. This was actually below the 2007 figure of $24.6 billion. Asset financing for projects such as utilityâ€“scale wind, solar and biofuel projects reached a huge $127.6 billion.
Overall wind investment was up 31 percent from 2009, with some huge wind turbine installations in development. Rooftop solar also grew significantly. Investments in distributed clean power generation rose a staggering 91 percent to $59.6 billion.
There was also significant growth in energy storage, smart grid technologies, and electric car investments, which grew 27 percent to $23.9 billion.
The question now is: what will the year of 2011 bring to clean energy investment?
Image CC licensed by Bilfinger Berger Group