Europe set to outspend US on clean energy in 2024, but China dwarfing rivals

June 06, 2024

By Thomas Macaulay

Europe is set to outspend the US on clean energy this year — but neither will come close to China’s investments. That’s according to new research from the International Energy Agency (IEA). It estimates that clean energy tech funding will hit $2 trillion in 2024 — nearly double the figure for fossil fuels. The biggest magnets for the cash include renewables, electric vehicles, and nuclear power. Yet not every region is splashing the cash lavishly. China has emerged as the runaway leader. The country is tracking to spend $675bn this year, according to the IEA, which credits strong domestic demand for…

This story continues at The Next Web

Source:: The Next Web

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