The developing world has, for the first time, outstripped richer economies in providing new investment in the renewable energy sector, according to a report.
And research and development (R&D) funding from government sources, at US$5 billion in 2010, for the first time overtook corporate R&D investment, according to 'Global Trends in Renewable Energy Investment 2011', published by the UN Environment Programme (UNEP) last month (7 July).
"The increase in government R&D funding is a global phenomenon and reflects, partly, the spending of money from the 'green stimulus' packages that were introduced [by some countries] in 2008–9 after the financial crisis," said Angus McCrone, chief editor of the research and analysis provider Bloomberg New Energy Finance, which prepared the report.
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Author: Daniela Hirschfeld
