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Investments in renewable energy are increasing, according to the IEA

7 hours ago


Annual investment in renewable energy is set to increase by almost a quarter from 2021, compared with a 15 percent increase in investment in fossil fuels, the International Energy Agency (IEA) said.

About 90 percent of clean energy consumption is in advanced economies and China, underscoring the global gap between rich and poor countries.

"Clean energy is breaking through fast - faster than many people realize," said Fatih Birol, executive director of the IEA. “For every dollar invested in fossil fuels, about $1.7 now goes to clean energy. Five years ago, this ratio was one to one."

Almost $2.8 trillion will be invested this year in energy worldwide, of which more than $1.7 trillion should go to renewable energy sources, nuclear power, electric vehicles and improvements in energy efficiency, writes Reuters.

The remaining billion dollars will go to oil, gas and coal.

By 2023, solar spending could reach more than $1 billion a day, or about $380 billion a year.

OPEC said the IEA's calls to halt investment in oil are undermining global energy security and growth.

International climate scientists and campaigners have warned that the fossil fuel industry is exacerbating the catastrophic effects of climate change.

https://vesanews.al/rriten-investimet-ne-energjine-e-rinovueshme-sipas-iea-s/