• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 3 days The United States produced more crude oil than any nation, at any time.
  • 9 days e-truck insanity
  • 4 days How Far Have We Really Gotten With Alternative Energy
  • 8 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 7 days James Corbett Interviews Irina Slav of OILPRICE.COM - "Burn, Hollywood, Burn!" - The Corbett Report
  • 7 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 9 days Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 8 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 12 days Bankruptcy in the Industry
U.S. Oil and Gas Boom Poses Challenge to Climate Goals

U.S. Oil and Gas Boom Poses Challenge to Climate Goals

Despite renewable energy efforts, the…

Trafigura: AI Boom Could Spark a Copper Shortage

Trafigura: AI Boom Could Spark a Copper Shortage

The sudden explosion of AI…

IEA: Renewable Energy Investment Needs To Triple By 2030

Investment in renewables must more than triple to $1.3 trillion annually by 2030 if the world is to reach net-zero emissions by 2050, the International Energy Agency (IEA) said on Thursday.  

Previously, the agency had estimated that clean energy would need $1 trillion in annual investment to reach the climate goals.

In the World Energy Outlook 2022 published today, the IEA said that electricity generation from renewables needs to see one of the largest increases in investment in the Net Zero Emissions (NZE) Scenario, rising from $390 billion in recent years to $1.3 trillion by 2030. This level of annual spending in 2030 would be equal to the highest level ever spent on fossil fuel supply, $1.3 trillion spent on fossil fuels in 2014, the IEA said.   

Concerns about fuel prices, energy security, and emissions – bolstered by stronger policy support – are brightening the prospects for many low?emissions fuels, the IEA said.  

Clean energy investment is massive today, but it needs to rise much more if the world has a chance to get to net zero by 2050.

“A huge increase in energy investment is essential to reduce the risks of future price spikes and volatility, and to get on track for net zero emissions by 2050,” the IEA said.

“Governments should take the lead and provide strong strategic direction, but the investments required are far beyond the reaches of public finance. It is vital to harness the vast resources of markets and incentivize private actors to play their part,” the agency noted.

Today, for every $1 spent globally on fossil fuels, $1.5 is spent on clean energy technologies. Under the NZE Scenario, every $1 spent on fossil fuels needs to be outmatched by $5 spent on clean energy supply and another $4 on efficiency and end?uses by 2030.


“Shortfalls in clean energy investment are largest in emerging and developing economies, a worrying signal given their rapid projected growth in demand for energy services. If China is excluded, then the amount being invested in clean energy each year in emerging and developing economies has remained flat since the Paris Agreement was concluded in 2015,” the IEA said.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:

Join the discussion | Back to homepage

Leave a comment
  • steve Clark on October 27 2022 said:
    Anyone who runs an electrical grid knows that the only green energy that does not disrupt the grid is Hydroelectric and Nuclear. Wind and solar are a complete disaster when you are trying to keep the gird energized at a steady level. If wind and solar are kept under 15% of the total grid power levels it can be "managed" but get any higher... and we will see brown outs in summer and winter.

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News