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.
It depends on what you believe.
Fox News will tell you that our southern border is no longer being overrun, that we’ve discovered that vaccinations are unsafe, that we’re standing up against Sharia Law, we’re preventing Iran from building a nuclear weapon, prices are coming down (or soon will be), Trump is an honest and effective servant of the American people and that the U.S. is once again respected on the world stage.
We live in a country where tens of millions of idiots believe every word of this.
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I met a guy today from a rural part of Central England–“nothing but farms and pubs,” as he put it. His father was an epidemiologist working for the United Nations, and so, as a boy, he lived all over the world and grew up largely in developing countries that suffered from horrific diseases.
He and his wife had the conversation one would expect from such people:
- Why are we so content to ignore climate change that is ruining our planet?
- Why are people so indifferent to the suffering of others?
- How is it possible that billionaires expect to live well here on Earth while 99.9% of us suffering with wildfires, devastating storms, blistering heat, losses of landmasses, and desertification?
- At the end of the day, is money really that precious?
Obviously, not everyone thinks this way, but to be in something of a “lovefest” for just a few minutes was a great relief.
relief.
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