Investment in wind and solar is set to outpace oil and gas drilling for the first time this year, according to one analyst — a milestone in the worldwide transition to clean energy that comes in spite of a spiraling energy crisis and calls to increase fossil fuel production.
The projection by Rystad Energy is in line with a separate prediction by DNV GL, another company that tracks energy markets. DNV thinks a short-term boost for coal in developing countries is no match in the long term for the march of falling renewable costs, electrification and increasing carbon prices.
These forecasts — and others like it — suggest the clean energy transition has …
Source image: Kenueone / Wikimedia
Original title: Clean energy transition gains speed, despite global tumult