Drops in solar cell prices and rapidly increasing interest in developing nations led to a 32% increase in investments in renewable energy globally in 2010 according to a United Nations report.
Overall, the $211 billion in 2010 investments in renewable energy...wind, solar, geothermal and related technologies...was driven by policies in nations that increasingly require such power worldwide. The United Nations Environment Programme report finds that Chinese wind farms and German solar rooftops led investments but, surprisingly, developing nations spent more on renewable energy utility projects ($72 billion) than developed nations ($70 billion). Among the findings:
- China led all nations with about $49.8 billion in investments; Germany spent $41 billion; and the U.S. spent $29.6 billion
- Big gains were in small-scale projects such as rooftop solar panels (up 91% to $60 billion) and government research (up 121% to $5.3 billion)
- Not counting hydroelectric facilities, renewable energy supplied 5% of global electricity, 30% of all new electrical capacity.
Total investment in more traditional fossil-fuel fired power plants was $219 billion last year, according to the U.S. Energy Information Administration figures, slightly ahead of renewables.
Domestically, regulations in 30 states (but not Indiana) require that renewables generate some portion of their total power needs. This is a leading factor in investments.
For more information about The Hagerman Group or Emerging Energy Markets, please contact Dave Hall.
Executive Vice President of Corporate Development
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