Investments In Solar Energy To Pass Those For Oil For First Time, Largely On China Money

  • 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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