The credit crunch has so far had little impact on the attractiveness of renewable energy as an investment, according to Ernst & Young.

From March 2007 to June 2008, the Wilderhill Clean Energy Index [NEX] rose by 17%, compared with an 11% decline for the FTSE index. The solar sector has shown a rise of 56% during the period, while wind companies fell 7% and biomass stocks were down by 34% on average.

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