The international environment agency, The Pew Charitable Trusts, has released a report that ranks Australia in 12th position in G20 countries -  behind Brazil, Canada, Spain, France, India and Japan, but ahead of the UK -  in terms of investment in clean energy.

 

The report, Who’s Winning the Clean Energy Race, finds that global investment in clean energy has recovered strongly from the Global Financial Crisis, increasing by 30% to achieve a record $243 billion worth of finance and investment in 2010.  Australia’s investment increased by 104% in 2010 to $3.3 billion, with the wind sector attracting 57%, and solar accounting for 34% of investment.

 

According to the report, Australia is seeking to increase its installed wind energy generating capacity to 4 GW over the next four years.

 

Collectively, the European region was the leading recipient of clean energy finance, attracting a total of $94.4 billion. In particular, there was more than 100 percent growth in investment in small-scale solar installations in Germany and Italy. The Asian region is expected to close the gap, with investment there having increased by 33 percent to $82.8 billion in 2010.

 

China leads the international investment ranking with a record $54.4 billion invested in clean energy in 2010. China is now the world’s leading producer of wind turbines and solar modules.

 

The report also found that, after a ‘dismal year’ in 2009, venture capital and private equity investments in clean energy in G20 countries increased 27 percent to $8.1 billion in 2010, with major investments including $400 million in the Pattern Energy Group (wind); $350 million in Better Place (electric vehicle charging infrastructure); and $150 million in Bright Source Energy (solar).

 

The report, Who’s Winning the Clean Energy Race, is available at http://www.pewenvironment.org