Joe Capitalist
Racism is a disease
Current Climate: Solar Power Investments To Eclipse Oil In 2023
https://apple.news/AHWzTZGVjRYuIO6xmiMdvPw
This week’s Current Climate, which every Saturday brings you the latest news about the business of sustainability. Sign up to get it in your inbox every week.
The International Energy Agency released its annual World Energy Investment report this week. The intergovernmental agency has found that investments in energy have increased across nearly all categories and are expected to hit $2.8 trillion. As has been the case since 2015, investments in clean energy sources are greater than those of fossil fuels, with over $1.7 trillion in clean energy investments this year. Those energy investments include electric vehicles, nuclear power plants, heat pumps and other related products.
The agency notes that the gap between the amount invested in clean energy keeps increasing versus fossil fuels, a trend that’s been ongoing since 2019. Of particular note are investments in solar power, which are expected this year to exceed investments in oil production for the first time since the agency started tracking investment. That’s despite the fact that fossil fuel investment is expected to grow 15%.
“Clean energy is moving fast – faster than many people realize. This is clear in the investment trends, where clean technologies are pulling away from fossil fuels,” IEA Executive Director Fatih Birol said in a statement. “For every dollar invested in fossil fuels, about 1.7 dollars are now going into clean energy. Five years ago, this ratio was one-to-one.”
https://apple.news/AHWzTZGVjRYuIO6xmiMdvPw
This week’s Current Climate, which every Saturday brings you the latest news about the business of sustainability. Sign up to get it in your inbox every week.
The International Energy Agency released its annual World Energy Investment report this week. The intergovernmental agency has found that investments in energy have increased across nearly all categories and are expected to hit $2.8 trillion. As has been the case since 2015, investments in clean energy sources are greater than those of fossil fuels, with over $1.7 trillion in clean energy investments this year. Those energy investments include electric vehicles, nuclear power plants, heat pumps and other related products.
The agency notes that the gap between the amount invested in clean energy keeps increasing versus fossil fuels, a trend that’s been ongoing since 2019. Of particular note are investments in solar power, which are expected this year to exceed investments in oil production for the first time since the agency started tracking investment. That’s despite the fact that fossil fuel investment is expected to grow 15%.
“Clean energy is moving fast – faster than many people realize. This is clear in the investment trends, where clean technologies are pulling away from fossil fuels,” IEA Executive Director Fatih Birol said in a statement. “For every dollar invested in fossil fuels, about 1.7 dollars are now going into clean energy. Five years ago, this ratio was one-to-one.”
