IEA chief: Solar power investment to exceed oil for first time

Source: Financial Times [UK]

“Solar power investment is set to outstrip spending on oil production this year for the first time, the head of the International Energy Agency has said, highlighting a surge in clean energy development that will help curb global emissions if the trend persists. … This year $1.7tn is forecast to be spent on clean technologies compared with $1tn on fossil fuels. Five years ago, the $2tn in annual energy investment was split evenly between fossil fuels and clean technology, such as renewables, electric vehicles and low-emissions fuels.” (05/25/23)