According to the report, “Global Trends in Sustainable Energy Investment 2008,” over $148 billion in new funding entered the sustainable energy sector globally last year, up 60% from 2006, even as a credit crunch roiled financial markets.Wind energy again attracted the most investment ($50.2 billion in 2007), but solar power grew most rapidly -- attracting some $28.6 billion of new capital and growing at an average annual rate of 254% since 2004.

However, experts warn that in the fight against global climate change, there is no silver bullet. Still, renewable energy will play a significant part. For instance, a recent US government report forecasts wind energy will amount to more than a slight breeze in powering the country. Laura Iiyama has more from Washington.