Bill Gates is doubling his billion-dollar bet on renewables

Fortune

Bill Gates reckons he has already dropped a cool $1 billion on investments in renewable energy technologies. Now he’s looking to double that.

Gates, who according to Forbes will still have at least $78 billion left even after he’s placed his new bets, said in an interview with the Financial Times that investing in radical, ‘wild-eyed’ energy tech companies is the only way that the world is going to get the solution to climate change at an affordable economic cost.

Current technologies, he said, were too expensive.

“The only way you can get to the very positive scenario is by great innovation,” he said. “Innovation really does bend the curve.”

Gates wasn’t impressed by those who claim their new battery and energy story technology can solve the problem of unpredictability that dogs renewable sources such as wind and solar.

“There’s no battery technology that’s even close to allowing us to…

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