Despite the worldwide recession, a new report shows that the clean energy industry is booming. According to a report released by the United Nations Environment Program, $155 billion was invested in clean energy companies and renewable energy projects worldwide in 2008, exceeding investment in fossil fuel technologies in that same year. Over 50 percent of investment dollars went to clean energy projects that are powered by wind, solar, hydro and bio-thermal sources.
While the report showed that investment in this sector is growing, investment remains only the first step. Renewable energy still only accounts for 6.2 percent of the total power capacity, according to the report. Compared to previous years, investments in renewable energy projects increased 5 percent, according to the report.
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