Renewable energy investment tops US$100 billion

Investment in renewable energies, such as wind power and biofuels, leapt to a record US$100 billion in 2006. Worries about global warming are likely to sustain the boom. The U.N. Environment Programme (UNEP) said investment capital flowing into renewable energy and efficiency technologies rose 25% in 2006 to US$100 billion, from US$80 billion in 2005. Of the total, US$71 billion included initial public offerings and spending on research and development of sustainable energy while mergers and acquisitions added almost US$30 billion. Renewable energies accounted for 18% of investment in world power generation, or US$21.5 billion. (June 21, 2007)