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The 2 Biggest Clean Energy Trends for 2023

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Russia's attack on Ukraine has sped up investment in renewable energy. Globally, renewable energy installations grew by 25% in 2022. That means $1.4 trillion poured into "clean energy" projects in 2022, according to the International Energy Agency (IEA). That's more than ever before. And it surpassed the total investment into new oil and gas projects last year.

The 2 Biggest Clean Energy Trends for 2023 

Thursday, February 9, 2023

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Russia's attack on Ukraine has sped up investment in renewable energy. 

 

Globally, renewable energy installations grew by 25% in 2022. That means $1.4 trillion poured into “clean energy” projects in 2022, according to the International Energy Agency (IEA).

 

That’s more than ever before. And it surpassed the total investment into new oil and gas projects last year.

 

The energy crisis spurred by the Russian invasion is “an accelerator for clean energy transitions.”

 

The IEA points to two particular areas of growth in the clean energy space.

 

The first area of rapid growth is heat pumps.

 

The shift has been dramatic. For more than a hundred years, we have heated buildings with coal, oil, gas and wood. But that is changing rapidly. Globally, heat pump sales grew by 15%. In some European countries, sales doubled in the first few months of 2022, following the Russian invasion of Ukraine.

 

The second area of rapid growth is electric vehicles.

 

In 2022, nearly 15% of all new car sales globally were electric, compared to a mere 3% of all new car sales in 2019. China dominates the market. More electric cars were sold in China than anywhere else. China’s biggest electric car and bus maker, BYD, has a higher global market share than Tesla if you count hybrid vehicles.

 

At this pace, every second car sold in the biggest car markets — China, the United States and Europe — will be powered by electricity by 2030. 

 

Tony Daltorio

Editor @ Wall Street Spy

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Stock's Meteoric Rise Still Has Legs

 

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