The global deployment of renewable energy grew in 2012 despite the UK PV industry recording significantly reduced activity since the slashing of the Feed-in Tariff rates, the Guardian has reported.
However, the income from the sector remained flat due to the plummeting costs for solar photovoltaic panels, according to the Clean Energy Trends 2013.
The revenue for the three technologies increased by 1 per cent globally to $249bn in 2012, according to the Clean Energy Trends 2013 report released on Tuesday by renewable energy research firm Clean Edge.
Overall, renewable energy increased its market share of new energy investments from 1.1 per cent in 2001 to 19 per cent in 2012.
Looking to the future, the report suggests innovation can continue to improve the performance of renewable technologies.
Curved wind turbine blades inspired by humpback whale fins have increased wind energy capture over flat blades by 25 per cent, while mimicking photosynthesis using dye-sensitised solar cells based on titanium oxide instead of silicon is proving effective in low-light situations.
Geothermal energy also has major source potential, according to the report.