Global investment in renewable energy hits record high12th Jun 2012
There's good news for advocates of renewable energy, as a new report shows that investment in the technology has hit a record high.
The United Nations Environment Programme (UNEP) revealed that solar power has overtaken wind as the major source of investment, attracting nearly twice as much in the way of capital.
Why are these stats so important? Because they show that even amid turbulent economic times, renewable energy is still viewed as a sound investment choice - and in particular solar power panels.
Solar energy investment increased 52 per cent to reach $147 billion last year, which was largely fuelled by a rise in installations in Germany and Italy.
The record was also helped out by the rapid spread of small-scale solar power systems from China, which is where Australia sources much of its technology.
UNEP executive director Achim Steiner said: "Whatever the drivers, the strong and sustained growth of the renewable energy sector is a major factor that is assisting many economies towards a transition to a low carbon, resource-efficient green economy."
As global financial problems continue, it will be interesting to see whether renewable energy investment continues into 2012.
Posted by Mike Peacock