Investments in Renewable Energy Topped Fossil Fuels Last Year

November 29, 2011 · Print This Article


For the first duration, investments in renewable energy projects surpassed those in fossil fuel ability plants, according to Bloomberg New Energy Finance.  Last year, $187 billion was invested in renewable energy installations, while $157 billion was invested in new natural gas, oil and coal plants.

The increase in investments in the sector, even while in a down economy, has led to price drops in equipment

and

renewable energy ability, making solar and wind capability far more competitive with coal ability.

Renewable energy subsidies deserve a lot of credit for the spending increase:  about $66 billion in subsidies were handed out last year.

It’s a great bit of news as another round of global talks on the climate crisis is likely heading nowhere as we speak.

via LA Times

[Source] Cynthia

Comments

Got something to say?