China remains leading destination for clean energy investment

China remains the leading destination for clean energy investment in 2013 as global investment kept declining in 2013, according to a report released on Thursday.

China remains the leading regional and global clean energy market, attracting 54.2 billion U.S. dollars in 2013, 6 percent lower than that in 2012, said the report by the Pew Charitable Trusts.

The report said the worldwide investment in clean energy kept declining in 2013 after it reached its peak in 2011, mainly dragged down by the curtailment of incentives in Europe region, including Europe, the Middle East and Africa.

Clean energy finance in the European region slid sharply for the second consecutive year, by 42 percent to 55 billion dollars. Investment plunged by 55 percent in Germany and 75 percent in Italy, said the report.

Japan, Canada and non-G20 markets, however, witnessed quick investment growth. Japan experienced the fastest growth in the world by increasing 80 percent in 2013 to almost 29 billion dollars and moving to third from fifth place among G20 countries. Canada moved to seventh from 12th among the G20 as investment grew 45 percent to 6.5 billion dollars in 2013. The investment in non- G20 markets also increased by 15 percent.

The report also found more solar than wind energy was installed globally for the first time in 2013. Solar generating capacity increased by 20 percent while wind capacity addition declined by more than 40 percent due to the uncertainty about U.S. policy in the wind sector.

The solar will be the leading clean energy technology in both investment and capacity for the next several years, the report predicted.