Washington, DC -- Investments in renewable energy technologies continued their steady rise in 2011, with total new investments in renewable power and fuels reaching $257 billion, up from $220 billion in 2010, according to a report from the Worldwatch's Institute's Climate and Energy programme.
The report also claims net investment in renewable power capacity was $40 billion greater than investment in fossil fuel capacity.
China attracted $52.2 billion in new investments in 2011, the largest sum of any country, Worldwatch said, adding that this accounted for nearly 60 percent of the total new investments in developing countries and more than 20 percent of the global total.
In terms of the pace of growth, the US saw 57 percent growth in investment over 2010 levels, outpacing all countries except India's 62 percent. Overall, the US ranks second in total national renewable energy investment at $50.8 billion, followed by Germany at $31 billion.
Worldwatch is an independent research organisation based in Washington DC that works on energy, resource, and environmental issues.