For the first time, investments in renewable energy projects surpassed those in fossil fuel power plants, according to Bloomberg New Energy Finance. Last year, $187 billion was invested in renewable energy installations, while $157 billion was invested in new natural gas, oil and coal plants.
The increase in investments in the sector, even while in a down economy, has led to price drops in equipment and renewable energy power, making solar and wind power far more competitive with coal power.
Renewable energy subsidies deserve a lot of credit for the spending increase: about $66 billion in subsidies were handed out last year.
It's a great bit of news as another round of global talks on the climate crisis is likely heading nowhere as we speak.
via LA Times
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written by Zara, November 30, 2011
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written by Ed @ Solar Quotes, November 30, 2011
Great read, hope to see more like this in the near future.
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written by Daniela, December 01, 2011
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written by Sapoty, December 10, 2011
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