The annual report issued by the International Energy Agency shows that in 2023, the investment in the solar energy industry will exceed that in oil for the first time. The Director of the International Energy Agency stressed that the investment in clean energy is growing faster than many people think. 90% of global investment in electricity production is invested in decarbonization technology.
The total investment in decarbonization technologies (renewable energy, nuclear energy, electric vehicles, or heat pumps) in 2023 will reach $1.7 trillion, while the investment in fossil fuels will be approximately $1 trillion. For every $1 invested in fossil energy, approximately $1.7 is invested in clean energy. The average annual growth rate of investment in oil, natural gas, and coal is about 15%; The annual growth rate of clean energy investment is 24%.
The growth of clean energy investment is mainly driven by solar energy investment. In 2023, an average of over $1 billion per day ($380 billion for the entire year) was invested in the solar energy industry, surpassing investment in the oil production sector for the first time ($370 billion for the entire year).
It must be pointed out that the investment returns on fossil fuels are not as abundant as before. The price fluctuation of fossil fuels is extremely high, especially affected by geopolitical conflicts, which makes people very concerned about natural gas supply. The economic recovery measures of the European Union, China, Japan, and the United States have also exacerbated this supply tension trend. Some countries have raised taxes on fossil fuels, making companies less optimistic about the prospects of investment returns.
But the pace of global energy investment is not consistent. The increase in solar energy investment is mainly concentrated in the United States, Germany, Japan, France, and China, while the contribution of other regions of the world to the growth of solar energy investment is very small. The International Energy Agency calls on the international community to mobilize. Ironically, the investment in solar energy is the least in the regions with the most sunshine in the world.
As a technology company dedicated to research, production and sales of new energy industry products, Multifit Solar is extremely optimistic about the development prospects of new energy, especially solar energy. In order to enable more people to enjoy green energy, Multifit Solar has been working tirelessly on research and development. It has been working in the field of photovoltaic systems and photovoltaic cleaning for more than 10 years, and has launched photovoltaic systems, Solar inverter, photovoltaic cleaning equipment and many other products, It has been exported to over a hundred countries overseas, not only providing high returns for solar energy investors, but also making a significant contribution to global energy conservation and emission reduction.
In the future, Multifit Solar will continue to maintain its original intention and shine for the people of the world in the field of new energy, benefiting more new energy investors!
Post time: Jul-07-2023