Global clean energy investment grew 16% to $310 billion in 2014, according to annual data from Bloomberg New Energy Finance, falling just short of the investment record set in 2011.
The Bloomberg report “shows strong performance in many of the main centres for clean energy deployment, with China up 32% to a record $89.5 billion, the U.S. up 8% to $51.8 billion, Japan up 12% to $41.3 billion, and India up 14% to $7.9 billion,” Clean Capital reports. “Europe, meanwhile, edged up 1% to $66 billion.”
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Asset finance was the largest category of investment, at $170.7 billion, followed by small, distributed projects under one megawatt, up 34% with $73.5 billion committed, Noble writes. In Canada, clean energy investment grew 26% to $9 billion, with most of the activity centred in Ontario, Quebec, and British Columbia and focusing on solar and wind, followed by run-of-river hydro and biomass.