World's clean energy spend passes $1 trillion
The one trillionth dollar has been spent on renewable energy since 2004 according to a new report.
The announcement, by Bloomberg New Energy Finance, states that the milestone was reached "during the last two weeks of November, probably somewhere in the developing world."
|
Installing solar panels Image: OregonDOT |
The precise trillionth dollar that changed hands is difficult to identify at a time when investment in renewable energy, energy efficiency and 'smart' technology is burgeoning. Bloomberg began recording clean energy investments in 2004 at a time when oil prices began to rise significantly and Germany introduced the first feed-in tariff scheme for electricity generated from renewable technology, such as wind farms and solar panels.
According to the report, annual clean energy investment has grown nearly five-fold with 2010 figures reaching $243bn from just $52bn when Bloomberg's records began. The organisation is predicting a continued exponential rise in 2011 with a number of major projects being set up in the US, Europe, China and India.
While reluctant to name the specific project that took expenditure past the $1trn mark, Bloomberg cited a number of possible candidates over the two week period in November, with everything from a biomass plant in Brazil to a solar thermal project in Morocco and a biodiesel rights issue in Germany.
