Todd Woody: Global investment in green energy hit record in 2010 | Grist
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The numbers are in and 2010 proved a record year for green energy, investment with venture capitalists, corporations, and governments worldwide pouring $243 billion into wind farms, solar power, electric cars, and other technologies, according to a new report from Bloomberg New Energy Finance.
That’s a 30 percent spike from 2009 and nearly five times the money invested in 2004, the research firm said.
“It flies in the face of skepticism about the clean energy sector among public market investors, who have been concerned about the sustainability of subsidy programs in Europe, the failure of the Obama administration to deliver a climate or an energy deal, and the crescendo of ill-informed doubts about climate change,” Michael Liebreich, Bloomberg New Energy Finance’s chief executive, said in a statement.
But a closer look at the numbers offers a sobering lesson for the United States, which risks being left in the coal dust by China and other countries. China, for instance, put $51.1 billion into clean energy in 2010, a 30 percent increase from the previous year.
“The main drivers of the rapid growth in investment in 2010 were China, European offshore wind, European rooftop solar and research and development,” the report noted.
Read more at Grist and follow Todd @greenwombat
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TckTckTck is the public campaign of the Global Campaign for Climate Action. The GCCA is an unprecedented alliance of more than 300 non-profit organizations all over the world. Our shared mission is to mobilize civil society and galvanize public support to ensure a safe climate future for people and nature, to promote the low-carbon transition of our economies, and to accelerate the adaptation efforts in communities already affected by climate change.View Author Profile
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