According to a recently released United Nations report, global investment in renewable energy reached a record $257 billion in 2011, a 17 percent increase from the amount invested in 2010. Globally, renewable energy covers approximately 16.7 percent of energy consumption. Of this share, modern technologies such as solar and wind accounted for just 8.2 percent, even less than the 8.5 percent contributed by biomass. By comparison, more than 80 percent of electricity consumed worldwide still comes from fossil fuels.

 

China was responsible for almost one-fifth of total global investment, spending $52 billion on renewable energy last year. The United States was close behind with investments of $51 billion, as developers sought to benefit from government incentive programs before they expired. Germany, Italy and India rounded out the list of the top five countries.

According to China’s 12th Five-Year Plan for Economic and Social Development (2011-2015), the country will spend $473.1 billion on clean energy investments over the next five years. China’s goal is to have 20 percent of its total energy demand sourced from renewable energy by 2020.

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