Renewable energy investments are surpassing investments in new fossil fuel power for the first time ever, according to Bloomberg New Energy Finance as reported by Joe Romm on ThinkProgress. Adding to the encouraging news, Bloomberg New Energy Finance reported that the trillionth dollarhas been invested in renewable energy, energy efficiency and smart energy technologies.Wind, solar, wave and biomass energy attracted $187 billion of investment capital in 2010 compared to $157 billion for natural gas, oil and coal, according to Bloomberg New Energy Finance’s latest data and calculations. A faster pace of wind and solar power installations, along with oversupply in various wind and solar power plant inputs, is driving installed costs lower, making these clean, renewable alternatives more competitive with coal using conventional cost and return on investment measures and methods, even given their increasingly glaring inadequacies.

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