Record Investment in Renewables

Despite a weak global economy, investments in renewable energy soared in the second quarter of 2008 to a record $5.8 billion. That’s more than twice as much as was invested in “clean tech” in the first three months of the year, according to a report by a London-based alternative energy consultant, New Energy Finance. In addition to robust investments in areas such as wind power and residential solar panels, the report said that investors are pouring money into two newer sectors: industrial-scale solar panel arrays for utility companies, and second-generation biofuels produced from non-food sources, including algae and waste wood.