More than $211 billion was invested in renewable energy technology worldwide in 2010, a 32-percent increase from 2009, according to a new UN report. And for the first time, developing nations outpaced wealthy economies in renewables investment, with China accounting for about one-fifth of total investment, at about $48.9 billion — a 28-percent increase from 2009. In developing countries, about $72 billion was invested in utility-scale renewable energy projects and provision of equity capital for renewable energy companies, compared with $70 billion by developed economies. In 2004, by comparison, total renewables investments by developing countries was one-quarter of those in developed countries. Other factors contributing to global growth last year includes an infusion of economic stimulus dollars finally trickling into markets, high prices for fossil fuels, and government incentives, such as feed-in tariffs for green energy projects. The report, Global Trends in Renewable Energy Investment 2011, was compiled by the UN Environmental Programme (UNEP), the Frankfurt School of Finance, and Bloomberg New Energy Finance.
Global Renewables Investments Surged 32 Percent in 2010, Report Says
More From E360
-
INTERVIEW
Marina Silva on Brazil’s Fight to Turn the Tide on Deforestation
-
Solutions
Solomon Islands Tribes Sell Carbon Credits, Not Their Trees
-
INTERVIEW
With Sea Turtles in Peril, a Call for New Strategies to Save Them
-
RIVERS
Jared Kushner Has Big Plans for Delta of Europe’s Last Wild River
-
Energy
A Nuclear Power Revival Is Sparking a Surge in Uranium Mining
-
OPINION
Despite Official Vote, the Evidence of the Anthropocene Is Clear
-
INTERVIEW
At 11,500 Feet, a ‘Climate Fast’ to Save the Melting Himalaya
-
Oceans
Octopuses Are Highly Intelligent. Should They Be Farmed for Food?
-
Climate
Nations Are Undercounting Emissions, Putting UN Goals at Risk
-
Solutions
As Carbon Air Capture Ramps Up, Major Hurdles Remain
-
ANALYSIS
How China Became the World’s Leader on Renewable Energy
-
Biodiversity
As Flooding Increases on the Mississippi, Forests Are Drowning