According to reports, investments in clean energy worldwide slumped 12 per cent to $254 billion last year while India saw marginal rise in such investments during the same period, says a report.
India witnessed an investment of $7.8 billion in renewable power and energy smart technologies last year, higher than $7.6 billion recorded in 2012, according to research firm Bloomberg New Energy Finance.
“Global investment in clean energy was $254 billion last year, down from a revised $288.9 billion in 2012 and the record $317.9 billion of 2011,” the firm said in a release today.
The decline is about 12 per cent compared to 2012.
The reduced volume of investment was mainly on account of a continued sharp reduction in the cost of photovoltaic systems, and the impact on investor confidence of shifts in policy towards renewable power in Europe and the US.
As per the release, the two biggest investing countries —— China and the US —— saw their dollar commitments fall in 2013.
China’s investment in clean energy touched $61.3 billion last year, lower than $63.8 billion pumped in 2012.
In the case of US, the investment dropped to $48.4 billion in 2013 from $53 billion seen in the previous year.
“Other significant investors in renewable power and energy smart technologies were India, where the 2013 total was $7.8 billion, up from $7.6 billion in 2012; Canada, up from $5.7 billion to $7.5 billion; Australia, down from $5.6 billion to $5.4 billion; and South Africa, down to $4.9 billion from $5.7 billion,” the release said.
Venture capital and private equity investment in clean energy fell to $4.3 billion last year —— the lowest since 2005 — from $6.4 billion in 2012.