"NEW DELHI - As scientists and activists urge rapid cuts in the use of climate-heating coal for power production around the world, new projections from India show that coal will remain its biggest source of electricity this decade, despite a fast rise in the nation's renewable energy capacity.
Globally, $1.7 trillion - 60% of total energy investment - is expected to go into clean technologies, including renewable energy, in 2023, outpacing fossil fuel finance, the International Energy Agency (IEA) said on Thursday.
Countries like India need fast deployment of renewables to meet their green power goals. But the IEA said that growth could be held back by low levels of investment in emerging economies due to factors such as higher interest rates, unclear policy frameworks, weak power grids and financially stressed utilities.
In India, by 2030 coal will still generate the highest share of its electricity at 55%, down from 73% today, while renewables, led by solar, will account for 31%, up from 12% now, the country's Central Electricity Authority (CEA) said this month."
Bhasker Tripathi reports for Thomson Reuters Foundation May 25, 2023.
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