Renewables Investment To Increase Rapidly “The first truly global energy crisis, triggered by Russia’s invasion of Ukraine, has sparked unprecedented momentum for renewables,” it said.
IEA chief Fatih Birol said the global energy crisis had kicked renewables “into an extraordinary new phase of even faster growth as countries seek to capitalise on their energy security benefits.”
The analysis comes at a time of huge disruption within global energy markets following Russia’s invasion of Ukraine in February.
“The global energy crisis is driving a sharp acceleration in installations of renewable power, with total capacity growth worldwide set to almost double in the next five years,” it said.
Fatih Birol, the IEA’s executive director, said the global energy crisis had kicked renewables “into an extraordinary new phase of even faster growth as countries seek to capitalise on their energy security benefits.”
Earlier this year, a report from the International Energy Agency said clean energy investment could be on course to exceed 2 trillion per year by 2030 an increase of over 50% compared to today.
Stay thirsty and stay patient, the future is just beginning!!!