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Investment in Renewables Surges

Posted in Renewables by Cheryl Morgan on the July 1st, 2008

The BBC reports on a publication by the United Nations Environment Programme (UNEP) which tracks spending on renewable energy. According to Global Trends in Sustainable Energy Investment 2008 the amount invested worldwide in such projects last year was $148bn, up 60% on last year. Wind is the biggest area of investment, but solar is the fastest growing. However, worries about world food prices and environmental damage have caused investment in ethanol and biofuels to fall by about a third. UNEP head Achim Steiner describes the current situation as a “green energy gold rush.”

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