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
written by Zara, November 30, 2011
written by Ed @ Solar Quotes, November 30, 2011
written by Daniela, December 01, 2011
written by Sapoty, December 10, 2011
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