$120bn Stimulus next 2 years for Solar & Wind, estimates Davos report

Post date: Jan 28, 2010 11:23:53 PM

World Economic Forum in Davos, Switzerland.

Of $177 billion of recovery funds pledged by governments to renewable power and energy-efficiency measures, $25 billion was paid out in 2009 and $60 billion will follow in each of the next two years, the company said in a report released today at the World Economic Forum in Davos, Switzerland.

Total investment this year 2010 in clean energy will likely by $200 billion,

38 percent more than the $145 billion spent in 2009.

US $67bn, China $47bn

The U.S. topped pledges for clean-energy recovery spending with $66.6 billion, followed by $46.9 billion in China, $16.4 billion in South Korea and $8.9 billion in Japan, Bloomberg New Energy Finance said.

source: bloomberg.com