The annual report says global investment in renewable energies, not including hydro-electric power, climbed 17 per cent in 2014 to around $270 billion.
The increase marked a global rebound after two years in which renewable energy investment shrank from its all-time high in 2011.
China was the clear colossus at the top of the investment heap, with spending up 33 per cent over 2013 to a total of more than $83 billion.
The United States and Japan rounded out the top three — each investing more than $35 billion — while Canada placed sixth overall for the second year in a row, with investments of about $8 billion, up 31 per cent over 2013.
The report found that, globally, solar and wind energy projects accounted for 92 per cent of all investment in renewables in 2014.
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Note to readers: This is a corrected story. An earlier version cited the percentage increase in Canadian investment at seven per cent and the Chinese at 39 per cent.