IEA
Climate love
Climate love
Sarah Chabane
21 h
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Solar investments to outpace oil for the first time in 2023

The graph speaks for itself but investors around the world are making a powerful statement as solar power is getting more funding than oil production this year, marking a remarkable shift towards a low-carbon economy! The International Energy Agency (IEA) reports that over $1.7 trillion will be invested in clean-energy technologies, surpassing fossil fuel investments by around $1 trillion. Clean energy spending is set to grow by 24%—faster than fossil fuels at 15%. This surge is driven by solar panels and electric vehicles, leading the charge against climate change.
While this progress is good news, we need to double our annual investments by 2030 to stay on track for limiting global warming to 1.5°C and fossil fuel investment, especially in coal, must decline sharply to achieve the IEA's net-zero emissions vision.

Solar investments to overtake oil outlays this year: IEA
Investment in solar energy projects is set to overtake that for oil production for the first time this year as clean energy spending outpaces that for producing fossil fuels, the IEA said Thursday.
https://economictimes.indiatimes.com/industry/renewables/solar-investments-to-overtake-oil-outlays-this-year-iea/articleshow/100492787.cms


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14 h
This is so encouraging
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15 h
This should be the trend onwards
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19 h
10 years have made a huge difference and this serves to encourage everyone involved in solving the climate crisis. Surely We Can Do It.
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We Don't Have Time•
20 h
I love that, this one is speaking volumes.