On a world level, green investment in 2010 rose by one-third to a record $211bn, with a huge sum ($50bn) derived from China. Growth was also significant in other parts of the developing world, including India (25%) and Latin America (39%).
By contrast investment in Europe dropped by one-fifth to $35bn. However this figure shows a brighter picture when it comes to small-scale renewables in Europe, especially for solar power in Germany.
Connie Hedegaard, Commissioner for Climate Action, called for at least 20% of the EU's budget to be spent on climate-related issues in the future. "This significant increase reflects that it is a key political priority for Europe to tackle climate change by transforming Europe into a clean, competitive low-carbon economy. But it also marks a paradigm shift."- she said.
EHPA would welcome such a decision, as the heat pump market would benefit from future investment in green technology. A growing market in turn would lead to additional contribution on the use of RES and the savings of greenhouse gas emissions. The EU heat pump market in 2010 saw a decline of roughly 10% - this is seen by many industry actors as the bottom line - first quarter figures for 2011 show a positive trend!
More information on the heat pump market can be found in EHPAs "Outlook 2011- heat pump markets and statistics" which will be published in August 2011.