Global investments in renewable energy jumped 32 percent to $211 billion last year, boosted by wind farm development in China and rooftop solar panels in Europe, UN officials said Thursday. A report by the UN Environment Program shows that solar, wind, biomass and other forms of green energy are gaining momentum, despite the lack of progress in international climate talks aimed at slowing emissions of heat-trapping gases from fossil fuels. The report also found that the developing world, led by China, for the first time attracted a majority of the investments in large-scale renewable energy projects. China spent $48.9 billion on such projects in 2010, mostly wind power — an increase of 28 percent from 2009. The United States was second with investments of $23.8 billion. While renewable energy only accounted for just over 5 percent of global power generation in 2010, UNEP chief Achim Steiner said the increased spending on green energy shows investors are preparing for a transition to a low-carbon future. “Fossil fuels live under the principle that over time they will become more expensive,” Steiner told The Associated Press.
