Global investment in "green" energy surged ahead in 2007 and has continued to grow this year despite turmoil in financial markets, a report says.

Spending on green power last year hit $148bn (£75bn), up 60% from 2006, the UN Environment Programme (UNEP) said.

Rising oil prices, concerns over energy security, climate change worries and growing government support were behind the rise, it said.

Wind energy got the most investment but solar power grew fastest as a sector.

However, higher crop prices in the US meant that the appetite to invest in ethanol and other biofuels fell by almost a third. ... Read full article