AUSTRALIA is falling behind the rest of the world in terms of investment in renewable energy, a study for the Climate Institute has found, and will fail to achieve its emissions reduction commitments if it relies solely on the ''20 per cent by 2020'' renewable energy target.
The study, by Bloomberg New Energy Finance, projected global investment in renewable energy plant would reach a new record of $US154 billion ($185 billion) in 2010, up 26 per cent on last year.
Asian investment in renewable energy, which outpaced the Americas for the first time in 2009, will continue to grow rapidly, according to the study. In the first quarter of 2010, China investment totalled $US6.5 billion, topping the US with $US3.5 billion.
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