Renewable Energy Investment Soars
Posted by Big Gav in investment, renewable energy
Grist has a post on the rapid rise of investment in renewable energy, with solar power being the fastest growing segment (and biofuels declining).
Global investment in renewable energy was a record $148 billion in 2007, jumping 60 percent from 2006, the United Nations reported Tuesday. About one-third of the investment went to wind power; solar power was the fastest-growing clean-energy sector from 2006 to 2007, with investment nearly doubling to hit $28.6 billion. Investment in biofuels dropped in the same time period, falling to $2.1 billion.
Most clean-energy investing is happening in Europe, says the report, followed by the U.S.; China, India, and Brazil are also seeing significant investment, while "sub-Saharan Africa, arguably the region that has the most to gain from renewable energy, remains largely unexploited."
The report expresses optimism that an international climate-change treaty will emerge in 2009 and that the next U.S. president will "make renewable energy and energy efficiency a political priority" -- two factors that would help ensure that clean-energy investment continues to rise.
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