'Green' energy spending on rise

[temi]

Global investment in "green" energy surged ahead in 2007 and has continued to grow this year despite turmoil in financial markets, a report says.
Spending on green power last year hit $148bn (£75bn), up 60% from 2006, the UN Environment Programme (UNEP) said.
Rising oil prices, concerns over energy security, climate change worries and growing government support were behind the rise, it said.
Wind energy got the most investment but solar power grew fastest as a sector.

source/full story (http://news.bbc.co.uk/1/hi/business/7483597.stm)

[bacardi]

If I am not mistaken, Germany is leading the way with something like 25% of new electricity coming online is from green energy and I believe the vast majority of that is wind farms!

[Geo Energy]

The situation may have changed somewhat, even though that report was from just a few months ago. The main factors likely to mitigate against these developments are

(i) the decline in the price of oil -- which in recent times was a major driving factor for the interest in renewables, and

(ii) the subsequent economic downturn in the global economy -- regardless of their longer-term environmental and economic benefits, the upfront development and implementation costs seem to be delaying or even causing some of these projects to be cancelled.