According to a report released by the United Nations, green energy overtook fossil fuels in attracting investment for power generation for the first time last year.

Wind, solar and other clean technologies attracted $140 billion compared with $110 billion for gas and coal for power generation, with over a third of the clean cash being invested in Britain and the rest of Europe, who are nations that continue to make great strides in this arena.

The largest growth seen for renewable investment came from China, India and other developing countries, which are quickly catching up to the oil-hungry West when it comes to moving away from fossil fuel sources to improve energy security and help combat the devastation of climate change.

“There have been many milestones reached in recent years, but this report suggests renewable energy has now reached a tipping point where it is as important – if not more important – in the global energy mix than fossil fuels,” said Achim Steiner, executive director of the UN’s Environment Program.