Investment in clean energy continues to soar reaching 1.1 trillion 2022, and China is now pulling ahead of Europe and the U.S. in terms of total investment
that an impressive $1.1 trillion flowed into the sector in 2022. BNEF says that almost every sector hit record levels of investment in 2022, including renewable energy, energy storage, hydrogen, carbon capture and storage , electrified transport, electrified heat and sustainable materials.
Another encouraging trend: although the hydrogen sector received the least financial commitment at just $1.1 billion, it remains the fastest-growing sector with investment more than tripling thanks to strong interest from the private sector and growing policy support.However, there’s been a seismic shift in investment trends with Europe no longer the epicenter of clean energy investments after losing that spot to China.
But there’s an even bigger reason why renewable energy has gained a new allure: renewable fuels are considerably cheaper than fossil fuels, especially oil and coal. The EI study reveals that the race for lowest cost remains mostly between solar photovoltaic and onshore wind. This trend rings true even in Japan, where the scarcity of real estate handicaps land-intensive renewables, onshore wind beats coal and PV displaces gas.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Kevin Magnussen: Becoming World Champion is no longer most important targetKevin Magnussen believes his attitude towards Formula 1 has changed after his year away from the sport, as well as becoming a father.
Read more »
Samsung defies pressure to rein in chip investment through downturn\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t
Read more »
Blackpool murder victim's sister demands longer appeal periodThe sister of a murdered 16-year-old girl says her killer should be locked up for the rest of his life.
Read more »
Children's services in Trafford no longer 'inadequate' - OfstedBut there are 'several areas where there is more work to do'
Read more »
Techies holding onto PCs, phones for longer than everDiscounts coming to clear inventory as device makers hit by inflation, interest rates and conflict in Ukraine
Read more »
Princess of Wales launches childhood campaign - but faces calls for long-term investment insteadThe group Practitioners of the Early Years Sector say: 'We are well accustomed to MPs and royalty visiting early years settings, praising the invaluable work of practitioners but nothing is done.'
Read more »