Investments in renewable energy and efficiency outpace fossil fuels

According to a report released Thursday by the International Energy Agency (IEA), globally, investment in renewable energy and energy efficiency will outpace investments in polluting energy sources in 2025. According to the report, more than $1.5 trillion will be invested in renewable energy technologies and energy efficiency in 2025 compared to $1.1 trillion in investment in fossil fuels.

IEA explains that while reductions in global warming pollution provide a powerful reason to invest in efficiency and renewables, often the primary driver  is that renewable industries are increasingly mature and the technologies cost-competitive.

“Thanks to recent rapid rise in technological improvements and declining costs, investors are backing projects that cut energy waste and harness our planet’s near-infinite renewable energy resources,” said Johanna Neumann, senior director of the Campaign for 100% Renewable Energy at Environment America Research & Policy Center.