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The tempo of renewable energy investments has gained momentum over the previous decade. According to the International Energy Agency (IEA) World Energy Investment 2023 report, $2.8 trillion will likely be invested this yr in power, together with fossil fuels, with virtually 61% devoted to wash power. Meet investor Ben Wolkon, a founding accomplice at MUUS Climate Partners. The agency invests to speed up renewable energy adoption and to create clear applied sciences. Now that renewables have crossed the chasm and entered the scale-up part, we wished to get a learn on methods to make extra progress quicker as a result of the nation continues to be not on observe to chop emissions by 50% earlier than 2030.
The IEA experiences that for every $1 spent on fossil gas growth, $1.7 is invested in clear power. Five years in the past, the ratio was 1:1. That’s actual progress, and most of that funding flows into new corporations. At the identical time, oil corporations usually are not turning their latest file income into investments in renewables. Instead, they’re growing extra wells and paying dividends relatively than investing in low-carbon and renewable power. That leaves room for a lot of upstarts, together with MUUS Climate’s portfolio corporations, our previous guest, Nth Cycle, in addition to Harvest Thermal, BrightNight, and Cache Energy, amongst others. You can study extra about MUUS Climate Partners at https://www.muusclimate.com/