November 28, 2011

Renewable Power Investments Exceed Fossil Fuel Investments

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 findings indicate the world is shifting toward consuming more renewable energy even without a global agreement on limiting greenhouse gases. 

Wind operators are likely to install 43 gigawatts of generating capacity this year and 48 gigawatts next year, up from 36 gigawatts in 2010, GWEC estimates.


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