You can take this as further evidence of economic derangement in 2008, or of an energy transition inflection point, or something screwy because of oil’s roller-coaster, or even just a back-door sign of outsized stimulus, but this quote from a recent UNEP sustainable energy investing report caught my attention:
2008 was the first year that new power generation investment in renewables was greater than invest in fossil-fueled technologies.
Specifically, according to the report, $140-billion went into renewables worldwide in 2008, while $110-billion went into fossil fuels.
Source:
Global Trends in Sustainable Energy Investing, 2009
UNEP
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