"Big rise" in green energy fund

1. April 2011 last updated at 14: 29 GMT wind power can rival without State subsidies from fossil fuels, compete WEF global says investment in clean energy projects saw a large increase in the last year and is ready for further strong growth, suggests a report.

Investment topped $243bn (￡ 152bn) in the year 2010, spent an increase of 30% to $186bn a year earlier, said the World Economic Forum (WEF).

It added that more clean energy sources could now compete with fossil fuels.

Higher energy prices were also expected to increase demand for clean energy, WEF said.

China boom

According to the WEF figures, clean energy investment stagnation in 2009, with an increase of 4% over the previous year.

The rebound in 2010 was even on the three regions by the Forum and Bloomberg new energy looked finance to distribute.

Investments in Europe, Middle East and Africa increased by $19bn to $94 billion, while America a jump from $17 to $65 billion saw. In Asia and Oceania increased investment of $20 to $82 billion.

The report said, was investing $51 billion in clean energy projects in China alone, an increase of 30% at 2009 levels.

China has also outside of the sector clean energy, including coal-fired power plants, the rapidly growing demand to make heavily invested.

Many other countries have also increased their expenditure on fossil energy projects since the downturn.

WEF said that doubling to $59 billion in the last year took investments in small clean energy projects with global investment. In Germany, for example, living room and rooftop solar capacity by a record amount.

Also rapid growth saw other countries with feed-in tariffs, such as the Czech Republic, Italy and the UK.

Solar power parity

High public debt by the global downturn meant however, that some countries on the promotion of clean energy cut back the report found.

As a result decreases in feed-in tariffs have been said likely this year. WEF highlighted also the continuing lack of a federal climate and energy bill as an obstacle for clean energy in the United States.

"But none of them was sufficient to the sector to derail progress" it concluded.

Looking ahead, so the report that the sector seemed to be poised for "further strong growth", supported by the fact that a growing number of clean energy sources now power generation without State subsidies could compete with traditional fossil fuels.

Clean energy projects were dependent on subsidies, as they need to become economically viable have not yet reached the critical mass as alternatives to traditional energy sources.

"Today, geothermal, wind, and biomass projects can use compete and Excel fossil rivals in the increasingly important markets of energy," according to the report.

Solar power generation, it added parity reached already with current retail prices in some parts of the world, "and will no doubt to as elsewhere soon".

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