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Investment in solar power to outstrip oil for first time, says IEA ...Egypt
Investment in clean energy will extend its lead over spending on fossil fuels in 2023, the International Energy Agency (IEA) said Thursday, with solar projects expected to outpace outlays on oil production for the first time. Annual investment in renewable energy was up by nearly a quarter since 2021, compared with a 15 percent rise for fossil fuels, the Paris-based energy watchdog said in its World Energy Investment report. However, fossil fuel investment is still double the level it needs to fall to if the world is to achieve net-zero emissions by mid-century. “Clean energy is moving fast — faster than many people realize,” said IEA executive director Fatih Birol. “For every dollar invest
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