Investment in renewables reached $257 billion in 2011, growing 17% from last year, despite austerity measures taken in by European countries.  Germany and Italy drove the growth in Europe, investing $31 Billion and $29 Billion, respectively mostly by asset finance.  The UK invested only $9 Billion, representing a 59% growth rate for its renewable energy industry.  The driver of that growth was the solar PV feed in tariff.  In OFGEM's FIT update for December 2011, the regulator confirmed that 667MW of renewable energy capacity was installed during the period from April 2010, sufficient to power 121,000 homes, 90% of this was solar PV. 

This UNEP report was released in advance of the Rio +20 Earth Summit.  .The report clearly demonstrates that investment in the industry will continue as installed costs decline as opposed to fossil fuel based alternatives, when the full cost of environmental impacts is included. 

You can download this report here:


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