A report from the United Nations Environment Programme’s (UNEP) Division of Technology, Industry and Economics (DTIE) said that global investment in renewable power set a new record in 2010, up 32 per cent on 2009 to $211bn.

The report, Global Trends in Renewable Investment 2010, also points out that there was strong evidence of a shift in activity in renewable energy towards developing economies. Financial new investment, a measure that covers transactions by third-party investors, was $143bn in 2010.

While just over $70bn of that took place in developed countries, more than $72bn occurred in developing countries. This is the first time the developing world has overtaken the developed in terms of financial new investment.

There has been an even sharper increase in investment into small-scale distributed capacity, and government and corporate R&D. These investments to $68bn in 2010, from $37bn in 2009, an increase of over 83 per cent.

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