As the net-zero carbon emissions ambition of world leaders is accelerating the global shift away from hydrocarbon-based energy sources, $472 billion will be invested in renewable energy in 2022, 44 per cent more than the $326 billion in 2017, a report by Agusto & Co has revealed.
According to the International Energy Agency (IEA), renewables will account for about 95 per cent of the increase in worldwide power capacity by 2026, with solar photovoltaics (PV) alone accounting for more than half of the anticipated expansion.
“Many governments are making sustainable investments a strategic thrust and are using policies and incentives to drive innovation in renewable energy technologies. As a result, Agusto & Co anticipates that the world’s capacity to generate electricity from solar panels, wind turbines, and other renewables will grow significantly in the next few years, “the report stated.
Nigeria, the report added, is not…
Source: Thisday Newspaper