By Celsias
Posted on Dec. 9, 2011. Listed in:
For the first time, investments in renewable energy projects surpassed those in fossil fuel power plants, according to Bloomberg New Energy Finance.
Last year, $187 billion was invested in renewable energy installations, while $157 billion was invested in new natural gas, oil and coal plants.
The increase in investments in the sector even though the world struggled with recession , has led to price drops in equipment and renewable energy power, meaning solar and wind power is now far more competitive with coal power.
It's a really good bit of news as another round of global talks on the future of the Kyoto Protocol comes nearly to an end with not much hope on the horizon.
