Green energy overtook fossil fuels in attracting investment for power generation for the first time last year, according to figures released today by the United Nations.
Wind, solar and other clean technologies attracted $140bn (£85bn) compared with $110bn for gas and coal for electrical power generation, with more than a third of the green cash destined for Britain and the rest of Europe.
The biggest growth for renewable investment came from China, India and other developing countries, which are fast catching up on the West in switching out of fossil fuels to improve energy security and tackle climate change. [emphasis mine]
One problem is that the world still needs to spend $750 billion on renewable energy in the next two years. Another is that overall, investments around the world are, um, not doing so well in the current economic climate. But still, that green techology is already generating more investment than their dirty predecessors — and that China and India, so often thrown around as the ones slowing the fight against global warming, are going green more rapidly — is a development that few could have predicted 15, 10, even 5 years ago.
(image from flickr user thinkpanama under a Creative Commons license)