Global investment in clean energy is on track to reach nearly double the amount going to fossil fuels in 2024, according to the IEA’s latest annual World Energy Investment report.
Total energy investment worldwide is expected to exceed $3 trillion in 2024 for the first time, with some $2 trillion set to go toward clean technologies, according to the report. The remainder, slightly over $1 trillion, is going to coal, gas and oil.
“Clean energy investment is setting new records even in challenging economic conditions, highlighting the momentum behind the new global energy economy. For every dollar going to fossil fuels today, almost two dollars are invested in clean energy,” says Fatih Birol, IEA’s Executive Director.
“The rise in clean energy spending is underpinned by strong economics, by continued cost reductions and by considerations of energy security. But there is a strong element of industrial policy, too, as major economies compete for advantage in new clean energy supply chains. More must be done to ensure that investment reaches the places where it is needed most, in particular the developing economies where access to affordable, sustainable and secure energy is severely lacking today.”
As the report highlights, solar is leading the transformation, with more money going into PV than all other electricity generation technologies combined. This year, sector investment is expected to grow to $500 billion.
China is set to account for the largest share of clean energy investment in 2024, reaching an estimated $675 billion. Europe and the U.S. follow, with renewables investment of $370 billion and $315 billion, respectively. These economies make up more than two-thirds of global clean energy investment.
The post Renewables Investments This Year Set to Outpace Fossil Fuel, Says Report appeared first on Solar Industry.
A couple of months ago, I happened to ask a friend who had emigrated from Sweden if she was religious. “No!” she exclaimed. “Almost no one in Sweden is religious.”
As we see at left, there seems to be a huge correlation between atheism and the national level of happiness. But what causes that?
Are believers unhappy people for some reason? That doesn’t make sense.
Here’s my two-fold theory. Atheists believe:
a) That we only live once, so we try to enjoy it while we can.
And, more importantly,
b) That we need to take care of one another (since there is no God). We’re willing to make sacrifices if that means things like great education, universal healthcare, environmental responsibility, tolerable working conditions, and near-zero poverty.
Renewable Energy
From the Independent: “Trump Administration to Pay Two More Companies to Walk Away from U.S. Offshore Wind Leases”
From this article in The Independent:
The Trump administration announced two more payouts Monday for energy companies to walk away from U.S. offshore wind projects under development.
Bluepoint Wind and Golden State Wind have agreed to end their offshore wind leases in exchange for reimbursements totaling nearly $900 million. Both companies have decided not to pursue any new offshore wind projects in the United States, the Interior Department announced Monday.
Bluepoint Wind is an offshore wind project in the early stages of development off the coasts of New Jersey and New York, while Golden State Wind is a floating offshore wind project proposed off California’s central coast.
Trump is hellbent on destroying the renewable energy industry so as to benefit his billionaire friends in fossil fuels.
He’s on course to be remembered as the most destructive person in world history, with the possible exception of Adolph Hitler.
What is said here about Pete Hegseth is clearly true.
But keep in mind that he’s fiercely loyal to Donald Trump, and Trump couldn’t possibly care what happens to the United States, as long as he can stay out of prison and enrich himself and his family.
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