Renewables overtake fossil fuel investment

Last year for the first time green energy overtook fossil fuels in attracting investment for power generation, according to figures released in June by the United Nations Environment Programme (UNEP). Wind, solar and other clean technologies (not including large hydro) attracted US$140 billion compared with US$110 billion for fossil-fuel-based (gas, coal and oil) electrical power generation. This means that renewables currently account for the majority of investment and over 40 per cent of actual power generation capacity additions last year.

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