There might be a silver lining to the rising gas prices after all. According to the expensive gas and climate change rules into renewable energy last year. In comparison to 2006, the investment in clean and energy efficient technology rose by as much as 60 per cent. $50 billion was invested in wind power and $28.6 billion in solar energy in 2007, says the UNEP report.
Europe is spearheading the renewable energy movement as it accounts for sixty two per cent of the global investment in the field. India, China and Brazil attracted $26 billion in renewable energy, which is 14 times the amount in 2004. In the United States, 2.4 per cent of the electricity is provided through clean technology and the future looks promising as the next president is likely "to make renewable
energy and energy efficiency a political priority.”
With fossil fuels becoming prohibitively expensive and also the biggest culprits for spewing out CO2, looks like renewable sources will be the future of energy.
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