In 2008 investors pumped $155 billion into clean energy companies and projects worldwide--not including large hydro--according to a United Nations report released last week.
Extremely difficult financial market conditions prevailed during 2008 as a result of the global economic crisis. Nevertheless investment in clean energy topped 2007's record investments by 5% in large part as a result of China, Brazil and other emerging economies.
Of the $155 billion, $105 billion was spent directly developing 40 gigawatts (GW) of power generating capacity from wind, solar, small-hydro, biomass and geothermal sources.
A further $35 billion was spent on developing 25 GW of large hydropower, according to the report.
This $140 billion investment in 65 GW of low carbon electricity generation compares with the estimated $250 billion spent globally in 2008 constructing 157GW of new power generating capacity from all sources.
It means that renewables currently account for the majority of investment and over 40% of actual power generation capacity additions last year.
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