India Finally Investing More in Solar than Coal: IEA

India Finally Investing More in Solar than Coal: IEA

The International Energy Agency (IEA) has revealed in a new report on worldwide energy investment that the world’s third-largest emitter of greenhouse gases after China and the United States, and home to more than one-sixth of humanity India “had the second largest jump in energy investment in 2018 after the United States.”

The report added,” In recent years, the fastest investment growth (up 12%) within this group has come from India with rising power sector spending, while spending in sub-Saharan Africa has declined, mostly due to less investment in fuel supply.”

“There has been a very big step change in terms of the shift in investments in India in just the past three years,” Michael Waldron, an author of the report, said. “But, there are a number of risks around whether this shift can be continued and be sustained over time.”

The report found that renewable power investments in India exceeded those of fossil fuel-based power for the third year in a row and that spending on solar energy surpassed spending on coal-fired power generation for the first time in 2018. Read More

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