By Timothy Cama - 04/04/14 09:53 AM EDT
Global investment in clean energy technologies such as renewable energy sources, biofuels, energy storage and smart energy fell 11 percent in 2013 to $254 billion, according to Pew Charitable Trusts.
The study found that China was the leading market for clean energy investment in 2013, with $54.2 billion, followed by the United States at $36.7 billion, a 9 percent drop from 2012. Japan saw 80 percent growth, the most of any of the 20 major economies Pew studied, the group said Thursday.
Pew was nonetheless optimistic about clean energy investment, saying that the drop was also partly due to falling costs of the technology. The global capacity of clean energy technology was down only 1 percent in 2013, Pew said.
Last year was the first time solar power technology saw more installations than wind energy, the report said, though wind still has far more infrastructure than any other clean energy source.