Investment in clean energy has almost halved under the coalition government.
The Clean Energy Finance Corporation annual report showed uncertainty in policy had produced a “dampening effect”, with investment falling from $6 billion in 2012/13 to $3.17 billion in 2014/15.
At the same time, global investment in clean energy had risen to a record $US320 billion ($A449.28 billion).
“With uncertainty in policy, some large renewable energy participants have announced plans to sell assets and exit the Australian market,” CEFC chairwoman Jillian Broadbent said in the report.
The policy changes included the review of the renewable energy target and new RET laws, the end of the carbon pricing scheme and industry grants, the new emissions reduction fund, an energy sector white paper and rescheduling of funding to the Australian Renewable Energy Agency.
However, the CEFC’s portfolio grew by 29 per cent over the financial year as it made $484 million in new investments.
At June 30, its portfolio stood at $1.2 billion and was forecast to earn 6.1 per cent in a market challenged by low interest rates and falling margins.
Dr Broadbent said the CEFC, which the Liberal party wants to abolish but has been blocked in the Senate, would continue to work constructively with all levels of government.