How solar investments are powering the 'net zero' crusade

Renewable energy is growing as the world attempts to reduce carbon emissions

a solar panel.
(Image credit: Illustrated | Gettyimages)

The world has reached a major milestone in the shift from carbon-based fuels to renewable energy: Investment in solar power exceeded the money put into oil development in 2022, CBS News reported. "For every dollar invested in fossil fuels, about 1.7 dollars are now going into clean energy. Five years ago, this ratio was one-to-one," said Fatih Birol, executive director of the International Energy Agency. Of the $2.8 trillion invested in the energy sector, $1.7 trillion went to "clean" sources.

What's driving the shift? "Energy security shocks created powerful incentives for policy makers to reduce vulnerabilities," the IEA said in its report. One of those shocks, of course, was Russia's invasion of Ukraine. The New York Times reported that Ukraine is shifting to wind power because of the war: It's easy enough to take out a traditional coal-fueled plant out with a single missile, but "doing the same to a set of windmills, each one hundreds of feet apart from any other, would require dozens of missiles." How quickly can renewables get us to "net zero" carbon emissions?

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Joel Mathis, The Week US

Joel Mathis is a freelance writer who has spent nine years as a syndicated columnist, co-writing the RedBlueAmerica column as the liberal half of a point-counterpoint duo. His work also regularly appears in National Geographic, The Kansas City Star and Heatmap News. His awards include best online commentary at the Online News Association and (twice) at the City and Regional Magazine Association.