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.
I suppose there are people who believe that the radical left is on a path to make Christianity illegal, and perhaps to install Islam as the official religion of the United States. This is remarkable for two reasons:
a) Every schoolchild in America learns about the First Amendment’s guarantee of freedom of religion at a very young age, and
b) This country made it successfully though 250 years with no one being ignorant enough to bring up this ridiculous concern.
One would hope that this figure of near 60% would indirectly translate into Trump’s ouster before he can take full control of the U.S. government.
We vote Trump’s stooges out of office in November and replace them people of honor. Trump is impeached, convicted and removed. From there, justice takes its course.
Nordex Q3 Orders Jump 30%, Vestas Bets on Australia
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