$257 Billion Global Investment In Renewable Power And Fuels In 2011, An Increase 17% To A New Record

Global investment in renewable power and fuels increased 17% to a new record of $257 billion in 2011. Developing economies made up 35% of this total investment, compared to 65% for developed economies.

Against an increasingly rough and tumble competitive landscape, total investment in renewables excluding large hydro last year increased 17% to a record $257 billion, a six-fold increase on the 2004 figure and 94% higher than the total in 2007, the year before the world financial crisis, says the UNEP report, Global Trends in Renewable Energy Investment 2012. The report was prepared by the UNEP Collaborating Centre for Climate and Sustainable Energy Finance in association with Bloomberg New Energy Finance. Although last year's 17% increase was smaller than the 37% rise recorded in 2010, it was achieved against the backdrop of a widening sovereign debt crisis in Europe and during a period of rapidly falling prices for renewable power equipment.