Renewable energy investment increased 32 per cent in 2010

The amount of private wealth being invested in renewable energy across the globe increased by 32 per cent in 2010 compared to 2009.

In total, $211 billion (£132.3 billion) was invested in renewable energy sources, such as solar panels, wind turbines and geothermal technology, according to a report by the United Nations.

The United Nations Environment Programme report found that Chinese wind farms and German solar rooftops led investments, with other countries, including the UK, contributing $70 billion (£43.9 billion) of private wealth to the sector.

Peter Lund, energy policy analyst at Finland's Aalto University, told USA Today: "Clean energy is starting to make a difference. However, it is very important to stress that new energy technologies' markets still rely much on government support and stimulus."

It is thought that the jump in renewable energy investment was driven by the reduction in the price of solar panels since 2008 (60 per cent drop).

Investment in small-scale projects, such as solar powered roofs, increased by 91 per cent last year while investment into government research jumped by 121 per cent.

Building company Northern Bear recently acquired £10 million worth of social investment to help it install solar panels on roofs in the north-east of England.

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