'Age of electricity' to follow looming fossil fuel peak, says IEA

Quick Summary:

Around $2 trillion is expected to be invested in clean energy in 2024, almost double the amount invested in fossil fuels.

That compares to $25 per barrel in 2050 should government actions fall in line with the goal of cutting energy sector emissions to net zero by then.

The report also lays out the likely impact on future oil prices if stricter environmental policies are implemented globally to combat climate change.

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Article Details

Category: BusinessFinance

Markets: India

Topics: Renewable energy International Energy Agency Fossil fuels Clean energy IEA

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-16 @ 11:14:44 (13 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 522 words

Reading Time: 3 minutes read

Sentences: 15 lines

Sentence Length: 35 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 23083189

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