Investments in clean energy projects and companies reached $155 billion last year, surpassing fossil fuel investments. According to a United Nations report, $13.5 billion in new private investment was directed to companies that are developing new technologies, with almost half that (according to Private Equity Intelligence, Ltd.) coming from clean technology-focused private equity funds.

Clean energy sources account for the majority of energy investments last year, with $105 billion spent on developing 40GW of wind, solar, small hydro, biomass and geothermal energy generation capabilities. Large hydro (25GW) accounted for another $35 billion in investments.

Totaling $140 billion, this accounts for 56% of investments in power last year. The aggregate 65GW, however, represents only 41% of new capacity developed in 2008. Renewable energy dominated the clean technology space, 75% of the total at $117 billion.

Investments in clean energy technology grew 5% from 2007 to 2008, leading to a second consecutive record-setting year. Emerging markets made the difference last year – particularly China and Brazil. China has become the second largest wind market in the worlds (as measured by new capacity) and the world's top photovoltaic manufacturer.

Geothermal appears to be on the horizon for several countries, including Australia and Kenya. Nonetheless, the ongoing financial crisis has put the squeeze on the clean energy space. U.S. investments fell 2%, and growth slowed considerably in Europe.

I'm glad that I'm not the only one who is just a little miffed at the way that Fed chairman Ben Bernanke and his elite staff have chosen to handle our economy. My feelings fall pretty much in line with those of investment genius Jim Rogers. I listened to a short interview with him today on public radio. He pretty much confirmed my belief that the dollar could be going the way of the dinosaurs. For crying out loud, the Fed dumped about four tons of greenbacks on the financial system Thursday. Bank leaders such as Citigroup Inc. (NYSE: C) aren't generating enough profit to meet the demands of operation and to please the shareholders at the same time! What's the Fed going to do about the 80% profit decline at Wachovia Corp. (NYSE: WB)? A lower basis point for bank borrowing won't even scratch the surface of the cash shortfall. In fact, the lower the basis point the more it injures the bank's ability to make a profit on the loans that we need right now to salvage some home ownership scenarios from the mortgage debacle. How much more evidence do you need to realize we are living in a time of disastrous fiscal policy? We're lining up to make 1929 look like a cake walk.

To limit risks when investing in alternative energy, Keith Fitz-Gerald notes, "We look for companies that have an actionable business model, a strong financial position, and an actual revenue stream."

The contributing editor to Monday Morning, a daily global news service, says, "One company that meets all these objectives is U.S. Geothermal (NASDAQ: UGTH). The firm has been in start-up mode for a few years now, but it's now set for the big time.

"Since I started following this tiny dynamo, the stock price has risen 278%. Even so, we're just starting to experience this company's true power -- pun absolutely intended.

"As its name implies, U.S. Geothermal is a renewable energy company focused on the production of electricity using geothermal energy. To break this down very quickly, geothermal power utilizes naturally heated underground water springs to turn turbines above ground by injecting water into the ground and pulling out steam.

"The company is sitting on two geothermal sites. There's the Raft River site (8.2 square miles), which is about 200 miles south of Boise, Idaho (formerly a geothermal test site for the Carter administration), and the Neal Hot Springs site in eastern Oregon (8.5 square miles).