Will the clean energy sector emerge from the recession faster than other industries?

That seems to be the suggestion in the latest REN21 Renewables Global Status Report. Despite the worst economic crisis since the Great Depression, grid-connected solar PV grew by an astonishing 70% and wind power by 29%.

At the same time, the United Nations Environment Programme has revealed that $155 billion was invested last year in various clean energy technologies, including solar, wind and biomass and despite the financial melthdown, transaction value in the global carbon market grew 87% during 2008, reaching a total of $120 billion.

What's driving this? It's coming very much from governments bringing in new policies and setting new targets. Europe, for example, has a target to get one fifth of its energy from renewable sources by 2020 compared with less than 10 percent now. This is critical because government intervention is certain to hold up prices and provide security for investors.

That said, setting up wind turbines, wave energy outlets and solar grids is capital intensive which means the sector can only fully recover once the global economy is back on track. Still, the figures might even suggest that renewable energy will make the strongest recovery and be out in front by miles.