Worldwatch Institute and Center for American Progress today released a report entitled "American Energy: The Renewable Path to Energy Security," which shows that new technologies which harness renewable energy have either already become -- or are steadily moving toward becoming -- economically competitive with fossil fuels.

Since 2000, global wind energy generation has more than tripled; solar cell production has risen six-fold; production of fuel ethanol from crops have more than doubled; and biodiesel production has expanded nearly four-fold. Annual global investment in "new" renewable energy has risen almost six-fold since 1995, with cumulative investment over this period nearly $180 billion.

The report adds that while the business growth and consumer demand are both skyrocketing, government policy continues to lag behind that of other world leaders, and calls for "world-class energy policies based on a sustained and consistent policy framework at the local, state, and national levels."