Global investment in clean energy reached a new high of $260 billion (€203 billion) last year, despite the financial crisis and the anti-environment agenda of Republicans in the US Congress, a United Nations investors’ summit was told on Thursday (12 January).
Data from Bloomberg New Energy Finance, which tracks clean energy investment, showed a 5% increase compared with 2010, driven largely by a surge of money going to the solar industry.
Investment in solar power rose 36% last year to $136.6 billion. And while the US domestic political scene was riven by the furore over a $535-million government loan to the now bankrupt solar-panel manufacturer Solyndra, there was apparently little immediate direct fallout for industry.
The US made $56 billion in clean energy investment last year, overtaking China, which invested $47.4 billion. It is the first time since 2008 that the US has invested more. The surge reflected the phasing out of Barack Obama’s economic recovery plan, which set aside as much as $80 billion for the green economy, once investment in high-speed railways is factored in.
“The stimulus went out with a bang,” said Ethan Zindler, head of policy analysis for Bloomberg New Energy Finance. …
(Excerpt) Read more at euractiv.com …
