Largely due to the lower cost of renewable power equipment, global renewable energy investments grew 16.8% in 2011 to reach a high of $257 billion, according to the Renewable Energy Policy Network for the 21st Century (REN21). Venture capital spending grew 5% to $2.5 billion. Government R&D investment, corporate R&D investment, private-equity funding and funding from publicly listed renewable energy firms fell 13%, 19%, 15% and 10% to $4.6 billion, $3.7 billion, $2.5 billion and $10.1 billion, respectively. Developed countries accounted for 65% of renewable energy spending. China, the US and Germany led renewable energy investments, with their spending growing 17%, increasing 57% and falling 12% to $52 billion, $51 billion, and $31 billion, respectively. India’s investment grew the fastest at 62% to $12 billion. Renewable power capacity rose 7.9% to 1,260 GW. The fastest-growing renewable energy technology, solar photovoltaics, increased capacity 75.0% to 70 GW.

Source: REN21