New global investment in renewable energy hit US$243bn in 2010 by Ernst & Young

Global offshore wind and solar energy markets continued to grow steadily last year, according to Ernst & Young. Ernst & Young’s latest global Renewable Energy Country Attractiveness Indices show that 2010 was a good year for offshore wind energy, with new capacity growth of 51%.

The solar sector, particularly concentrated solar power (CSP), grew strongly while biomass investment remained similar to 2009 levels. However, onshore wind was down 7% globally, with a 14% fall in Europe.

China is still the leader of the global renewable market and its wind and solar markets have continued to grow; total installed wind capacity grew 64% last year to over 42 GW. China's closest competitor, the US, installed 5.1 GW of wind power, barely half of the 2009 level and less than a third of China's 16.5 GW in 2010.

Source: Renewable Energy Focus