Capital investment in renewables is set to reach nearly $500 billion in 2022.
This year could be the first year that renewable investment overtakes upstream oil and gas investment. Join Our Community
Capital investments in renewables have also increased significantly and are set to reach $494 billion in 2022, outstripping upstream oil and gas at $446 billion for the year, according to Rystad Energy research. This is the first time that investment in renewables is set to be higher than for oil and gas.
“Capital investments in renewables are set to outstrip oil and gas for the first time this year as countries scramble to source secure and affordable energy. Investments into renewables are likely to increase further moving forward as renewable project payback times shorten to less than a year in some cases,“ says Michael Sarich, senior vice president, Rystad Energy.
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