Saturday, December 8, 2007

Renewable Energy Investment to Top $100 Billion This Year

Bali, Indonesia (TGW) – Investments in renewable energy will top $100 billion this year, according to a report issued at the U.N. sponsored climate summit in Bali, Indonesia.

"Policies to promote renewable energy have mushroomed over the past few years," the Renewable Energy Policy Network, which links governments, industries and other groups, said in its study.

"In 2007, global annual investment in renewable energy will exceed $100 billion,” it said. "Wind power now receives the largest share of investment annually of any renewable technology, even more than large hydropower," it said.

Renewable energy capacity totaled 240 gigawatts in 2007, excluding large hydropower projects. One gigawatt could power a city about the size of San Francisco.

In 2006, investment totaled around $55 billion, and $39 billion in 2005.

Via :: Reuters