28 Nov '11, 5pm

Oh yeah! Investment in #renewables trumps #fossil fuels first time ever. via @treehugger #energy

Oh yeah! Investment in #renewables trumps #fossil fuels first time ever. via @treehugger #energy

Just the other week Mat posted on a report from Bloomberg New Energy Finance that predicted clean energy investment would double by 2020 (although the news was somewhat tempered by the fact that it would still be one third of what's really needed). Now a new analysis from the same group suggests that investment in clean energy has already topped investments in coal, natural gas and other fossil fuel infrastructure : Electricity from the wind, sun, waves and biomass drew $187 billion last year compared with $157 billion for natural gas, oil and coal, according to calculations by Bloomberg New Energy Finance using the latest data. Accelerating installations of solar- and wind-power plants led to lower equipment prices, making clean energy more competitive with coal. “The progress of renewables has been nothing short of remarkable,” United Nations Environment Program Executiv...

Full article: http://www.treehugger.com/energy-policy/investment-renewa...

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