The impressive growth in clean energy investments in recent years has been led by renewable power. Annual spending on solar PV and wind projects has risen by more than USD 300 billion in the last five years, and now accounts for one-third of the total USD 1.8 trillion that we expect to go to clean energy investments in 2023. Deployment has been driven by a virtuous circle of policy support and cost reductions. The global energy crisis, coupled with acute concern over emissions and competition among countries for positions in the clean energy economy, has redoubled policy momentum in recent years.
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Financial headwinds for renewables investors: What’s the way forward? – Analysis – IEA
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