At $1bn a day, solar investment to outpace oil for first time in 2023

The International Energy Agency (IEA) is forecasting that investment in solar will rise to more than $1-billion a day, or to some $380-billion for 2023 as a whole, increasing spending on the renewable technology to above upstream oil for the first time ever. The agency’s World Energy Investment also indicates that more than $1.7-trillion of the $2.8-trillion to be invested in energy globally this year, will be directed towards clean technologies, including renewables, electric vehicles, nuclear, grids, storage, low-emission fuels, efficiency improvements and heat pumps.