IEA Director Fatih Birol predicted that capital investment flowing into the solar sector would exceed the volume allocated to oil production for the first time in history during 2023.
Solar investments are expected to attract more than $1 billion a day this year, with more than $1.7 trillion for clean energy technologies, renewables, and storage. Global investment in energy in general is expected to reach about $2.8 trillion this year.
Birol noted that for every dollar invested in fossil fuels, $1.7 is now allocated to clean energy, whereas these investments were equivalent five years ago.
Source (Al-Arab Newspaper of London, Edited)
