{"id":68532,"date":"2024-06-09T17:16:06","date_gmt":"2024-06-09T22:16:06","guid":{"rendered":"https:\/\/olduvai.ca\/?p=68532"},"modified":"2024-06-09T17:16:06","modified_gmt":"2024-06-09T22:16:06","slug":"iea-clean-energy-investment-to-reach-2-trillion-in-2024","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=68532","title":{"rendered":"IEA: Clean energy investment to reach $2 trillion in 2024"},"content":{"rendered":"
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IEA: Clean energy investment to reach $2 trillion in 2024<\/a><\/h3>\n

According to the International Energy Agency (IEA), more money is being invested in solar power than in all other sources of electricity combined.<\/p>\n<\/header>\n

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Global investment in clean\u00a0energy<\/a>\u00a0will reach $2 trillion (\u20ac1.84 trillion) this year, twice the amount invested in fossil fuels, according to the International Energy Agency (IEA).<\/p>\n

“For every dollar going to fossil fuels today, almost two dollars are invested in clean energy,” said IEA Executive Director Fatih Birol.<\/p>\n

Clean technologies include\u00a0renewables<\/a>, electric vehicles, nuclear power, grids, storage, low-emissions fuels, efficiency improvements and heat pumps.<\/p>\n

Meanwhile, total energy investment is expected to exceed $3 trillion for the first time in 2024, the agency said in its annual World Energy Investment report.<\/p>\n

In 2023,\u00a0combined investment in renewable electricity and grids<\/a>\u00a0surpassed the amount spent on fossil fuels for the first time.<\/p>\n

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Are perovskite cells a game-changer for solar energy?<\/strong><\/p>\n

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Solar investment surpasses other forms of energy<\/span><\/strong><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

According to the report, more money is going into\u00a0solar photovoltaic (PV) panels<\/a>\u00a0than all other electricity generation technologies combined.<\/p>\n

Solar panel costs have decreased by 30% over the past two years and in 2024 “investment in solar PV is set to grow to $500 billion as falling module prices spur new investments.”<\/p>\n

China is set to account for the\u00a0largest share of clean energy investment<\/a>\u00a0in 2024 with an estimated $675 billion, while Europe is set to account for $370 billion and the United States $315 billion.<\/p>\n

Lack of investment in some regions<\/strong><\/p>\n

By comparison, global upstream oil and gas investment is expected to increase by 7% to $570 billion in 2024, following a similar increase in 2023.<\/p>\n

National oil companies in the Middle East and Asia have been the main drivers of this growth, the report said.<\/p>\n

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What’s behind Pakistan’s solar energy boom?<\/strong><\/p>\n<\/div>\n

The IEA warned that meeting medium-term global targets to reduce harmful carbon emissions would require a doubling of global investment in renewable energy by 2030.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

IEA: Clean energy investment to reach $2 trillion in 2024 According to the International Energy Agency (IEA), more money is being invested in solar power than in all other sources of electricity combined. Global investment in clean\u00a0energy\u00a0will reach $2 trillion (\u20ac1.84 trillion) this year, twice the amount invested in fossil fuels, according to the International […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3],"tags":[2113,416,433],"class_list":["post-68532","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","tag-clean-energy","tag-iea","tag-international-energy-agency"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/68532","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=68532"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/68532\/revisions"}],"predecessor-version":[{"id":68533,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/68532\/revisions\/68533"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=68532"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=68532"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=68532"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}