Investment into renewables last year rose to $1.3 trillion, setting a new record high, the International Renewable Energy Agency said yesterday.Investment into renewables last year rose to $1.3 trillion, setting a new record high, the International Renewable Energy Agency said yesterday.
The 2022 investment went up by 19 per cent from 2021 investment levels, and 50 per cent from before the pandemic in 2019, the agency said. “Since decentralised solutions are vital in plugging the access gap to reach universal energy access to improve livelihoods and welfare under the 2030 Agenda, efforts must be made to scale up investments in the off-grid renewables sector. Despite reaching record-high yearly investments exceeding $0.5 billion in 2021, investment in off-grid renewable solutions falls far short of the $2.3 billion needed yearly in the sector between 2021 and 2030,” the report stated.
While comparing renewables financing across countries and regions, the report revealed that disparities have increased significantly over the last six years.
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