Renewables see more investment than fossil fuels in 2008
Renewable energy attracted $155 billion of investment compared with $110billion for fossil fuels in 2008, according to a report by the United Nations Environment Programme (UNEP) released this week.
According to the report $140 billion was invested in developing 65 GW of power generating capacity from wind, solar, hydropower, biomass and geothermal sources and $13.5 billion of new private investment went into companies developing new technologies.
Wind attracted the highest new investment ($51.8 billion, 1% growth on 2007), although solar made the largest gains ($33.5 billion, 48% growth) while geothermal was the highest growth sector for investment (up 149% and 1.3GW of new capacity
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