"Clean energy is moving fastit's faster than many people realize," says Fatih Birol, executive director of the International Energy Agency.
The IEA released its annual World Energy Investment report this week, and it finds that clean energy investments will hit $2.8 trillion this year, up from $2.4 trillion last year.
That's up from $2.4 trillion in 2015, and it means that for every dollar invested in fossil fuels, 1.7 dollars are going into clean energy, up from one-to-one just five years ago, reports Popular Science.
Specifically, clean energy investments include electric vehicles, nuclear power plants, heat pumps, and other products.
"This is clear in the investment trends, clean technologies are pulling away from fossil fuels," Birol says in a statement.
The report also finds that fossil fuel investments are expected to grow 15% this year, despite the fact that clean energy investment is expected to grow more than that for the first time.
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