30% growth of overall investment in renewable energy in 2010

Uncertainties connected with the continuing global financial crisis have not hindered investment in renewable energy. According to the latest industry report from Ernst & Young (Renewable Energy Country Attractiveness Indices), investments in 2010 reached an unprecedented level: $243 billion (181 billion euros), a 30% increase over the previous year.

China still leads the ranking, thanks to new wind installations, which registered a 64%increase compared to 2009, raising the total domestic capacity to over 42,000 MW.

The US follow, though wind power registered a sharp slowdown, with 5,100 MW installed, approximately half of what had been achieved the previous year. By contrast, the US actively developed the concentrating solar power market.

Europe shows a highly diversified scenario. Onshore wind power attracted less investments, with a 14% reduction of additional capacity. On the other hand, offshore installations increased significantly (51%).

The solar energy photovoltaic industry kept on attracting investment and installed capacity has grown considerably, particularly in Germany and Italy. Investment in biomass remained fairly stable, also confirming outside of Europe the levels it had reached in 2009.