Investments in solar energy exceed investments in oil production

The International Energy Agency has said that in 2023 investments in solar energy will surpass investments in oil production for the first time. For every dollar invested in fossil fuels, $1.7 goes into clean energy.

While Serbia has rounded up the legal regulations to increase the production of green electricity.

In the last three years, global investments in clean energy increased by a quarter, while investments in fossil fuels, which are still massively used worldwide, recorded a growth of 15%. The energy transition is also accelerating in Serbia, with the greatest interest being in solar and wind energy.

“Investors’ interest is huge, as shown by 20 gigawatt-worth of requests for allowing connections to the national power grid submitted to Elektromreza Srbije. That is twice as much as Serbia now has in its energy mix,” says the director of the Association of Renewable Energy Sources of Serbia, Danijela Isailović.

Boosting the share of clean energy in the total energy mix also requires new technological solutions – from production to power system management. The power industry is also adapting its operations to the increasingly demanding renewable energy market.

“Energy needs of the world are expected to triple by 2050, but we also need to make the most of the resources we currently possess. In order to make the most of this energy and transfer it to citizens and industry to use, we need to carry out complete digitization,” says Srdan Srdanović, Director of Smart Infrastructure at Siemens Serbia.

The report compiled by the International Energy Agency shows that this year’s global investments in the energy sector will be 2,800 billion USD, of which more than 60% of the money will be spent on clean energy technologies, and the rest will be investments in coal, oil and gas.

(eKapija, 04.06.2023)

This post is also available in: Italiano

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