Investment in wind energy breaks record

A record-shattering US$67.3 billion, up 14% year-on-year, was invested in wind energy projects last year, according to the 2010 Global Trends in Sustainable Energy Investment report published by the United Nations Environment Programme (UNEP) and Bloomberg New Energy Finance. However, investments in solar photovoltaics declined by 27% to US$24.3 billion while spending on biofuels fell much steeper by 62% to US$6.9 billion. Overall, investments in renewable energy sources declined by 8% to US$119 billion, although renewables still accounted for 60% of newly installed capacity in Europe and more than 50% in the U.S. in 2009. (July 16, 2010)