Australia's ranking among investors in large-scale renewable energy plummeted in 2014, dropping behind much poorer nations such as Panama, Sri Lanka and Myanmar, as confidence in the Abbott government's policies for the sector evaporated, according to Bloomberg New Energy Finance.

Investments in large-scale wind, solar and other clean energy sources dived 88 per cent in 2014 to $240 million, the lowest level since 2002, the energy consultancy said.

Small-scale solar held its own even as large-scale investments dived. Credit:Jeffrey Chan

Australia's global ranking sank 28 places from 11th with almost $2 billion invested in 2013 to just 39th

"We recorded zero investment in the wind sector," said Kobad Bhavnagri, lead analyst for BNEF in Sydney. Six of the seven largest projects were in solar power and involved support from government grants or the Clean Energy Finance Corp.