- Investment into solar energy will soon surpass that of oil production, the result of a massive boost from several economies including China, according to a report released on Thursday.
- The report came from the International Energy Agency (IEA) and found that green energy overall is on track to reach $1.7 trillion worth of investments this year, “significantly outpacing spending on fossil fuels.”
- The $1.7 trillion estimate is out of an expected total of $2.8 trillion in energy spending worldwide for 2023. Of the sum amount, just over $1 trillion “is going to coal, gas and oil.”
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Investments In Solar Energy To Pass Those For Oil For First Time, Largely On China Money
Towmotor driver Corey Reid transports solar panels at the assembly line at the First Solar manufacturing plant, Wednesday, Oct. 6, 2021, in Walbridge, Ohio. First Solar is a leading global provider of comprehensive PV solar systems using advanced module and system technology. (AP Photo/Tony Dejak)
