BUSINESS

Canadian Renewable Energy Investment Up 8 Per Cent; 6th Highest In World

03/31/2015 12:49 EDT | Updated 03/31/2015 12:59 EDT
Shutterstock / jaroslava V

OTTAWA -- A United Nations-sponsored report says Canada remained among the top 10 countries in the world for investment in renewable energy last year.

The annual report released this morning found 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 renewable energy investment heap, with spending increasing 39 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 eight 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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