Solar power investment is on track to outstrip upstream oil spending for the first time this year. Russia's invasion of Ukraine and the ensuing energy crisis is accelerating momentum behind clean energy investment, the IEA's World Energy Investment 2023 report says. Although spending on "unabated fossil fuel supply and power" is also projected to rise, to just over $1 trillion, as companies and countries scramble for quick gains in coal, oil and gas supply for energy security, its growth is lagging clean energy investment of $1.7bn. The gap between the two sectors is widening year by year, from being at parity just five years ago.
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