Capital investment in renewables is set to reach nearly $500 billion in 2022. This year could be the first year that renewable investment overtakes upstream oil and gas investment. The break-even time on renewable energy projects has fallen to under one year in some places. High spot electricity prices, particularly in Europe, are changing the utility wind and solar investment narrative as potential payback periods of under a year could start a race to develop renewable assets purely based on project economics, Rystad Energy research shows. Capital investments in renewables have also increased significantly and are set to reach $494 billion in 2022, outstripping upstream oil and gas at $446 billion for the year, according to Rystad Energy research. This is the first time that investment in renewables is set to be higher than for oil and gas. Up until now, returns on renewable energy projects (solar PV and […]