More Investment In Solar Than Oil In 2023
in 2009, we were often writing about solar power. It was a hot, fast-growing industry. It was exploding and forecasts for it were enormous. Yet, investments in solar power were nowhere close to investments in oil, and anyone who suggested solar would surpass oil at some point soon-ish would typically be deemed mad, mental. Well, I guess it’s debatable whether 14 years is soon-ish or not, but as I look back from this moment in time, it seems like the snap of my fingers.
As far as the electricity generation sector goes, clean energy is doing its part to slow and hopefully eventually stop global heating.
There is no doubt — this is a huge milestone and represents great progress. It should be celebrated as such. However, that does not mean all is perfect. The IEA warns that we are still investing far too much in fossil fuels. Across the economy, we need to cut investments in inefficient and fossil fuel technologies. Indeed, while solar power is a great success story that we can cherish and celebrate, solar cannot do it alone, and not every solution is advancing as well or as quickly as solar.
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