WORLD MONEY STILL FLOWING TO NEW ENERGY

Continued Growth in Renewable Energy Investments

Evan Musolino and Xing Fu-Bertau, October 9, 2012 (Worldwatch Institute)

“Emerging from the global economic recession, investments in renewable energy technologies continued their steady rise in 2011. Total new investments in renewable power and fuels (excluding large hydropower and solar hot water) jumped 17 percent—reaching $257 billion, up from $220 billion in 2010…In a year marked by falling costs for renewable energy technologies, net investment in renewable power capacity was $40 billion greater than investment in fossil fuel capacity…

“Through the first half of 2012, however, total investment fell behind the impressive pace set the previous year, attracting slightly under $108 billion compared with nearly $125 billion in the first half of 2011…”

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“Total renewable energy investments in industrial countries in 2011 accounted for 65 percent of global investment, increasing 21 percent to $168 billion overall…[T]he 35 percent of global new investment that went to developing countries increased 10 percent, to $89 billion…China, India, and Brazil accounted for $71 billion in total investment…Investment in India grew 62 percent—the highest growth rate for any single country over 2010 totals…

“A major development in 2011 was the dominance of solar power in technology-specific investments, driven by a 50 percent reduction in price over the year, with $147.4 billion invested in this technology compared with $83.8 billion for wind projects and $10.6 billion for biomass and waste-to-energy technology…”

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