Renewable energy investment totaled $214 billion around the world in 2013, down 14 percent from the previous year, a new report said.
Some 43.6 percent of the power plants, excluding hydroelectric facilities, that went online last year generate electricity from renewable energy sources.
The authors of the report, which was prepared by the Frankfurt School, the United Nations Environment Program, or UNEP, and Bloomberg New Energy Finance, told Efe that renewable energy investment is being adversely affected by the huge subsidies that fossil fuels receive.
Producers of fossil fuels receive about $600 billion annually in the form of subsidies around the world, or nearly three times the amount provided to renewable energy, the International Energy Agency, or IEA, said in a recent report.
Renewable energy investment in the Americas, excluding Brazil and the United States, rose 26 percent to $12 billion last year.
China invested $56 billion in renewable energy in 2013, while Europe pumped $48 billion into green energy.
European investment in renewable energy plunged 44 percent last year as the region continued to grapple with economic weakness. EFE