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The International Energy Agency (IEA) released the #WorldEnergyInvestment report providing a full update on the #investment picture in 2023 and an initial reading of the emerging picture for 2024. #solarenergy #renewableenergy #EnergeticaIndia

Developed economies have paved the way to improve #renewableenergy technology and reduce costs. SA can accelerate renewable energy investment with confidence on the back of these global technology and cost trends. Read more here: https://lnkd.in/erC6YSe7

Global investments in the low-carbon energy transition surged by 17% YoY, reaching $1.77 trillion in 2023. China was the largest investor, accounting for around 38% of total investment. However, European Union, US, and UK together overtook China in total investment, recording strong growth in investments. Electrified transport became the largest segment for investment in energy transition followed by renewable energy and power grid. New-age segments such as hydrogen, carbon capture and storage, and energy storage recorded strong growth during the year. #renewableenergy #sustainbility #cleanenergy #energytransition

About USD 2.8 trillion is set to be invested globally in energy in 2023, of which more than USD 1.7 trillion is expected to go to clean technologies, including renewables. This is according to the latest World Energy Investment report from the International Energy Agency (IEA): https://lnkd.in/eugyWJC7 “Clean energy is moving fast – faster than many people realise. This is clear in the investment trends, where clean technologies are pulling away from fossil fuels,” said IEA Executive Director Fatih Birol. “For every dollar invested in fossil fuels, about 1.7 dollars are now going into clean energy. Five years ago, this ratio was one-to-one.” However, the biggest shortfalls in clean energy investment are in the #Caribbean and other emerging and developing economies. In many countries, investment is being held back by factors including unclear policy frameworks, weak grid infrastructure, and a high cost of capital. Much more needs to be done by the international community, especially to drive investment in lower-income economies, where the private sector has been reluctant to venture. An upcoming special report from the IEA and the IFC - International Finance Corporation, on Scaling Up Private Finance for Clean Energy in Emerging and Developing Economies, to be released in June 2024, will address some of these shortfalls.

📢 Global Clean Energy Investment to Reach $2 Trillion in 2024 According to the IEA, investment in clean energy technology and infrastructure is projected to hit $2 trillion in 2024, doubling the investment in fossil fuels. Total energy investment will exceed $3 trillion for the first time. Clean technologies, including renewables and electric vehicles, lead the way, driven by cost reductions and energy security needs. China, Europe, and the US are the top investors, with significant focus on solar PV. Despite growth, emerging economies still face investment shortfalls. #CleanEnergy #Investment #Sustainability #Renewables #EnergyTransition

We're moving in the right direction. The world is investing far more in clean energy than fossil fuels: $1.70 was invested in clean energy for every $1 invested in fossil fuels. And the rate of fossil fuel investment is declining while the clean energy investment is growing exponentially. It's driven by fundamental economics: solar, wind and storage are less expensive per kWh than electricity from fossil fuels. And, and the total cost of ownership on a per mile basis is less for an EV than an ICE vehicle.  #energytransition #renewables https://lnkd.in/gHnTU_YP

World Energy Investment 2024 Key Points: Global Investment Shifts: Worldwide investment now favors clean energy almost twice as much as fossil fuels, with a significant growth in investment, particularly in renewable energy sources like solar PV, which now surpasses all other generation technologies combined in investment. Imbalances in Investment: Despite this growth, there are notable imbalances in investment. Emerging Market and Developing Economies (EMDEs) outside China only account for about 15% of global clean energy investment, highlighting a disparity in clean energy funding. Advancements and Challenges: The integration of renewable energy and enhancements to existing infrastructure have led to a revival in spending on grids and storage. Additionally, global energy investment has surpassed USD 3 trillion for the first time in 2024, with two-thirds of this amount directed towards clean energy technologies. Regional and Technological Disparities: Investments in regions like Africa and parts of Southeast Asia show promising growth due to new policies and infrastructure improvements. However, investment levels in the least developed countries remain critically low, risking their energy sustainability and development. Technological Investments: Investment in solar PV is projected to exceed USD 500 billion in 2024, showcasing its central role in power sector transformation. However, the report also notes the need for increased investment in other clean technologies like nuclear power and battery storage to support the overall energy transition. #CleanEnergyInvestment #GlobalEnergyTrends #RenewableEnergy #SolarPowerDominance #InvestmentDisparities #EnergyTransition

Global investment in low-carbon electricity will rise to 10 times as much as fossil fuel power this year due to an increase in spending on solar projects, according to the International Energy Agency.

World Energy Investment 2024 is out now! It shows total energy investment worldwide is on track to exceed $3 trillion in 2024 for the first time. And global spending on clean energy is set to reach almost double the amount going to fossil fuels. Read more in the press release → https://iea.li/4e8BMxU International Energy Agency (IEA)

A 60% surge in Clean Energy Investment! Over the past four years, the United States has seen a nearly 60% surge in clean energy investment – leading to the creation of more than 310 000 jobs in the sector, according to this in depth report from International Energy Agency (IEA). A hub for technological innovation, the United States is now a major market for renewables, batteries and electric vehicles, among other clean energy technologies. At the same time, the country continues to play a vital role in upholding global energy security as the world’s largest oil and gas producer.