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Solar power investment to exceed oil for first time, says IEA chief

Financial Times LogoFinancial Times3d ago

Solar power investment to exceed oil for first time, says IEA chief - Financial Times

Quick Summary:

Fatih Birol hopeful about 1.5C goal as clean energy spending forecast to hit $1.

The IEA chief attended the recent G7 summit in Japan and said he was encouraged by the level of alignment on energy matters between G7 members and invited countries such as Brazil, India and Indonesia.“I had rarely seen such a homogeneous view of the future of energy markets,” he added.

Solar power was the “star of global energy investments” with total spending expected to top $1bn a day, exceeding spending on oil production, said Birol.


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Article Details

Author / Journalist: Tom Wilson

Category: MarketsFinanceInvesting

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2023-05-25 @ 05:00:13 (3 days ago)

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Article Length: 689 words

Reading Time: 4 minutes read

Sentences: 21 lines

Sentence Length: 33 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 9212559

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Main Topics: MarketsFinanceInvesting

Official Website: ft.com

Update Frequency: 5 posts per day

Year Established: 1888

Headquarters: United States

News Last Updated: 9 hours ago

Coverage Areas: United States

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Publication Timezone: GMT -5:00

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Publisher ID: #3

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