New Delhi: With fast depleting non-renewable source of energy all across the globe and exorbitant prices of crude oil, non-renewable source of energy is getting more deserved attention right now. Wind energy and solar energy are among the prominent source of clean energy. India is not behind in the effort to join the global bandwagon. It is among the fastest growing clean energy market in the world.

Becoming the second fastest growing clean energy market among the G-20 nations, India attracted investments worth USD 10.2 billion in this segment last year.
The clean energy investment in India last year jumped 54 percent to USD 10.2 billion, according a report by US-based non-profit group Pew Charitable Trusts.
"India's clean energy sector was the second-fastest growing (market) in the G-20 in 2011...," said the report titled 'Who's Winning the Clean Energy Race?'
"The wind sector in India led the way, attracting USD 4.6 billion and spurring deployment of 2.8 GW during the year, a 38 percent increase in wind generating capacity," he added.
Last year, solar energy investments, too, jumped in India.
G-20 is a grouping of 20 countries that account for over 80 percent of global economic output.
In India, 45 percent of financing (USD 4.6 billion) was directed towards wind resources, while 41 percent (USD 4.2 billion) were into solar last year.
"India's growth propelled it from 10th to sixth place in the G-20, and the country ranks fifth in terms of five-year investment growth," the report said.
Apart from wind energy, the country is planning to have 20,000 MW solar capacity by 2020 through its National Solar Mission.
Figures from Pew Charitable Trusts showed that clean energy investment worldwide soared to USD 263 billion in 2011.
The G-20 member countries alone accounted for 95 percent, or USD 225 billion, of all global investments in clean energy.
"In 2011, a record 83.5 GW of new renewable energy technology was deployed around the world, including 43 GW of wind and a record 29.7 GW of solar generating capacity," the report said.
The declining cost of wind and solar power generation has also spurred increased investments in clean energy projects.
On the other hand, the report said that clean energy initiatives are likely to slow down this year in Europe.
"In contrast, Indonesia, China, Australia, and India occupy four of the top five spots for clean energy investment growth over the past five years as these countries seek to meet the increasing electricity demands of an emerging middle class," it added.