China is world's top investor in renewable energy, says study

China is now the world leader in renewable energy investment according to the "Global Trends in Renewable Energy Investment 2011."

In 2010, a total of 48.9 billion U.S. dollars were directed into green energy and technology research, particularly for wind farms, in China.

The report said wind energy projects are attracting the largest investment worldwide, with the volume jumping 30 percent to 94.7 billion U.S. dollars last year.

Solar energy bagged 86 billion U.S. dollars, while energy production from biomass and waste took the third place with 11-billion-dollar investments.

The study also noted that for the first time in history, developing countries as a whole has exceeded industrialized nations in major renewable energy projects.

Some 72 billion U.S. dollars were used for green energy in developing countries' private sectors, compared with 70 billion in the developed bloc.

In 2010, Europe's investments in large-scale projects even fell 22 percent to 35.2 billion dollars.

Germany, Europe's biggest economy and another pioneer in renewable energy, leads the world in new investments in solar panels on roofs, which hiked 132 percent to 34 billion dollars in 2010.

The report was based on a study jointly conducted by the Frankfurt School of Finance and Management, the United Nations Environment Program and the news service Bloomberg New Energy Finance.

The full story is available at Xinhuanet.