$2T Per Year Would Triple Global Renewables by 2030

Quotes:

• It will cost US$2 trillion per year to triple global renewable energy capacity by 2030, as countries pledged to do at last year’s United Nations climate summit in Dubai, the Berlin-based Climate Analytics think tank concludes in a report issued Tuesday morning.
• The total tab to achieve one of the cornerstone emission reduction goals laid out by the Intergovernmental Panel on Climate Change is about twice as much as countries invested in renewables in 2023. But it’s also less than one-third of the $7 trillion governments shelled out in fossil fuel subsidies in 2022, according to the International Monetary Fund, and just under 2% of that year’s global economic output, or GDP, of $101.3 trillion, as calculated by the World Bank.

Read the full post at The Energy Mix.