Investing in renewable energy

At one time the renewable-energy market depended on the ups and downs of oil prices. Not any more.

According to a new report by the UN Environment Programme, investment in sustainable energy sources is growing steadily, with no signs of slowing down in the near future. Venture capital and private equity going into this sector have jumped from $2.7 million in 2005 to $7.1 million in 2006 and continue to grow in 2007, enabled by various policies that have provided incentives for such investments.

Although the U.S., EU, and other developed countries still lead the market, developing countries are rapidly catching up, according to the report. India, China, and Brazil are now major producers of and markets for greener energy sources.