DelhiDesk India is investing more in clean energy than fossil fuels, according to a report by the International Energy Agency (IEA). Of the $2.8tn global energy investment for 2023, more than $1.7tn is expected to be allocated to renewables, electric vehicles, nuclear power, grids, energy storage, low-emission fuels, efficiency improvements and heat pumps. Investments in coal, gas and oil are expected to amount to slightly over $1tn. The report shows that the majority of the increase in clean energy investments is coming from advanced economies and China, leaving concerns that other regions may be left behind.
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Here is the news bullets sorted by DelhiBreakings.com team.
👉 India is surpassing spending on fossil fuels with clean energy investment
👉 $1.7 trillion of projected $2.8 trillion global energy investment for 2023 expected to be allocated to clean technologies
👉 Solar power poised to overtake investments in oil production for the first time in India
👉 Strong economic growth and proactive policy support driving India’s clean energy momentum
👉 Surge in electric vehicle adoption and growth in global heat pump sales in India
👉 Global efforts needed for equitable and widespread clean energy transitions
👉 Importance of international collaboration to drive investment in lower-income economies emphasized by IEA executive director
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