Investments in solar to outpace oil for first time in clean energy shift – IEA

Solar power system.

A solar power system in Rwanda. Investment in solar energy is gaining ground. FILE PHOTO | NMG

Investment in solar power is expected to overtake oil for the first time this year as clean energy spending outpaces that for fossil fuels, the IEA said in a report Thursday.

While that is a welcome development, the International Energy Agency (IEA) warned that investment in fossil fuels is rising when it should be falling fast to achieve net zero emissions by 2050.