- Solar power investment will exceed oil production spending this year for the first time.
- Clean energy spending is forecast to reach $1.7tn this year, compared to $1tn on fossil fuels.
- IEA chief, Fatih Birol, is hopeful the 1.5C goal can be achieved if this trend persists.
- Increased spending on clean energy is being driven by economic growth, price volatility and energy security concerns.
- Annual clean energy investment is expected to jump by 24% compared to 2021.
Solar power investment to exceed oil for first time, says IEA chief
Fatih Birol hopeful about 1.5C goal as clean energy spending forecast to hit $1.7tn this year
Tom Wilson
