All over the world officials are raising renewables targets and setting aside huge sums to bankroll a build-out.
"The crunch caused by the war in Ukraine may, in fact, have fast-tracked the green transition by an astonishing 5 to 10 years." #copper (1/5)
economist.com
"The crunch caused by the war in Ukraine may, in fact, have fast-tracked the green transition by an astonishing 5 to 10 years." #copper (1/5)
economist.com
Although energy-hungry countries have been busy signing long-term deals to import #LNG, which will force them to import the fossil fuel for several more decades, volumes remain modest.
Last year governments, households and firms together spent $560bn on energy efficiency. This money mainly went on two technologies: electric vehicles and heat pumps. Sales of the former almost doubled in both 2021 and 2022.
Last year global capital expenditure on wind and solar assets grew from $357bn to $490bn, surpassing investment in new and existing oil and gas wells for the first time. #vanadium
The investment surge and tighter targets should create an enormous amount of renewable-generation capacity. All told, the iea expects global renewable-energy capacity to rise by 2,400gw between 2022 and 2027, an amount equivalent to China’s entire installed power capacity today.
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