Clean energy investment slid 11 per cent last year after governments in industrial nations slashed subsidies for technologies ranging from wind turbines to solar power and biomass.
The $US268.7 billion ($254.4 billion) invested in the industry last year was down from a record $US302.3 billion in 2011, the second highest reading ever and was five times the level in 2004, according to data compiled by Bloomberg New Energy Finance.
Investment fell 32 per cent in the US, 51 per cent in Italy, 68 per cent in Spain and 44 per cent in India. That offset gains in China and from small hydropower projects, which were among the few bright spots in the report.
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