Solar power investment to exceed oil for first time, says IEA chief

26 May 2023 · 4 min
4:20

In this Arabic interview, energy researcher Dr. Omid Shokri discusses the post‑COVID shift in global energy policy from a focus on energy security toward a growing emphasis on clean‑energy technologies. He explains that, after the pandemic, both consuming and exporting nations are gradually reducing reliance on fossil fuels and increasing investment in solar power, batteries, nuclear and other low‑carbon solutions. Shokri highlights the massive financial resources required for this transition, noting that many consumer countries lack the capital to attract such investment. He points to the importance of advanced technologies—solar panels, storage systems, and electric‑vehicle batteries—and predicts that major economies like China and the United States will prioritize high‑tech clean‑energy development. The conversation also addresses why advanced economies are hesitant to fully embrace clean energy, citing the entrenched interests and profits of large fossil‑fuel corporations (e.g., Shell, BP, ExxonMobil) and national‑interest considerations. Despite these barriers, Shokri expresses cautious optimism that clean‑energy investment will soon surpass oil investment, leading to reduced carbon emissions and a more sustainable climate future.

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