Investments in clean energy technology are expected to double those in fossil fuel projects this year, marking significant growth for solar, wind, and other renewable power sources. 

The Daily Sabah highlighted a new report from the International Energy Agency, which found that global energy investments are set to reach $3.3 trillion, with a record $2.2 trillion of that going toward investments in nuclear, solar and energy storage, electrical grids, low-carbon fuels, solar, wind, and other green tech. 

According to the IEA’s annual World Energy Investment report, the push for more renewable energy is driven not only by global efforts to reduce heat-trapping pollution, but by also the increasing affordability of clean energy, along with concerns about energy security amid “elevated geopolitical tensions.”

Additionally, global electricity demand is surging, partly due to the rapid growth of energy-hungry data centers and artificial intelligence-powered technologies, creating a need for more sustainable power generation to meet industry needs. 

At the same time, investments in coal, natural gas, and oil are projected to decline to just $1.1 trillion, marking a global shift as society moves away from polluting fuels to cheaper, cleaner sources. 

As the clean energy transition continues to accelerate, it presents a perfect opportunity to invest in green businesses and stocks that are driving progress toward a more sustainable future. Backing eco-friendly companies and industries makes long-term financial sense and promotes continued technological innovation, helping to boost local economies, create jobs, and reduce dependence on fossil fuels. 

The more investors, governments, and companies work to bring clean energy online, the healthier the planet and communities will be, as it will contribute to better air quality, less pollution, and a more resilient environment. 

“Amid the geopolitical and economic uncertainties that are clouding the outlook for the energy world, we see energy security coming through as a key driver of the growth in global investment this year to a record $3.3 trillion as countries and companies seek to insulate themselves from a wide range of risks,” IEA chief Fatih Birol said in a statement.

“The fast-evolving economic and trade picture means that some investors are adopting a wait-and-see approach to new energy project approvals, but in most areas, we have yet to see significant implications for existing projects.”

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