More cash chasing renewables than conventional fossil fuels

A key tipping point is always money, and Norwegian research firm Rystad Energy, put out a report this week suggesting that across Asia (not including China), more money will soon be going into renewables than was used to create oil and gas pipeline projects – in other words exploration and production (E&P) spend. The two graph lines are supposed to cross in 2020, it says. It has measured Capex against E&P spend and says that in 2020, with heavy contributions from Australia, India, Vietnam, Taiwan and South Korea, it will stretch ahead of the search for fossil fuels. Capex for renewables will rise above $30 billion in the region by 2020. This will be a major plank in chasing money…