Cleaner, Abundant Fuels Attracting Record Investment

Cleaner, Abundant Fuels Attracting Record Investment A. Renewable energy captured from the wind, sun, Earth’s heat, tides, and from small dams is drawing record levels of investment as poor villagers and entire nations alike seek clean, abundant ways to fuel economic growth. Global investment in renewable energy set a new record of $30 billion in 2004, according to a new report from the Renewable Energy Policy Network for the 21st Century (REN21). Technologies such as wind, solar, biomass, geothermal, and small hydro now provide 160 gigawatts of electricity generating capacity – about four per cent of the world total – the report said. They are growing at rates of around 20-30 per cent per year, however, compared to two or three per cent for oil and gas. “Renewable energy has become big business,” said Eric Martinot, lead author of the study, “Renewables 2005: Global Status Repor...