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Record investment in renewable energy in 2011
Renewable energy sees record investment in 2011 but solar price drop hurts manufacturers
By The Associated Press

GENEVA (AP) ' The United Nations says global investment in renewable energy reached a record of $257 billion last year.

A report released by the U.N. Environment Program says solar energy alone attracted investments of $147 billion in 2011.

This was helped by falling costs for solar cells as Chinese manufacturers sparked a price battle that put several American and German competitors out of business.



China claimed almost a fifth of the total investment volume. The Asian nation spent $52 billion on renewable energy.

The United States was close behind with investments of $51 billion. Germany, Italy and India made up the top five.


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