GENEVA (AP) — The United Nations says global investment in renewable energy reached a record of $257 billion last year.
A report released by the U.N. Environment Program says solar energy alone attracted investments of $147 billion in 2011.
This was helped by falling costs for solar cells as Chinese manufacturers sparked a price battle that put several American and German competitors out of business.
China claimed almost a fifth of the total investment volume. The Asian nation spent $52 billion on renewable energy.
The United States was close behind with investments of $51 billion. Germany, Italy and India made up the top five.