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The Low Carbon Economy Ltd

12 Jan 2011 12:01:05

Record green energy investments seen in 2010



Record green energy investments seen in 2010
Green energy investments experienced their strongest year ever in 2010, figures compiled by Bloomberg New Energy Finance have revealed.

New cash injected into the field reached $243 billion (£155.3 billion) last year, far surpassing the $186.5 billion invested in 2009 and doubling the levels seen in 2006.

Small scale generation projects saw investment almost double to $59.6 billion, with the US, Germany, Italy and the Czech Republic performing particularly well in this field.

Overall, it was China leading the way, with an increase of 30 percent taking total investments up to $51.1 billion.

The development of offshore wind and rooftop solar generation in Europe was also a key driver. Research released by the European Renewable Energy Association recently suggested the continent was likely to exceed its 2020 renewable energy target.

Michael Liebreich, chief executive of Bloomberg New Energy Finance, said the investment figures were encouraging, however, they did come with "one important caveat".

"More than in most years, growth has been in fairly direct response to government intervention, whether in the form of cheap debt in China, sweet off?take deals for European offshore wind, feed?in tariffs for solar or a regulatory push for smart grids," he added.  ADNFCR-1235-ID-800337286-ADNFCR


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