Energy-efficient buildings and on-site power generation have driven a three-year rise in venture capital funding, new analysis has shown.

A recent report from Lux Research showed that venture funding for energy-efficient building technologies grew to $944 million in 2014. In addition, venture capitalists invested a record $2.64 billion in the market segment in the period between 2012 and 2014, a 15-year high – despite an overall decline in cleantech funding.

Investors closed 111 deals related to energy-efficient building systems in 2014, a 208% rise since 2008.

Funding for on-site generation surged during the 2012-2014 period, ending last year at 31% of total funding, up from 21% in 2012. Funding for building energy management systems (BEMS) also won 31% of the total, maintaining its 2012 level.

The report found that North American investors dominated the segment, contributing $501 million or 74% of the total funding, followed by Israel with $37 million.

Graph courtesy of Lux Research