IEA – World Energy Investment, 2024

Global energy investment is expected to surpass USD 3 trillion in 2024, with clean energy technologies receiving over USD 2 trillion. Investment in clean energy has been increasing since 2020, surpassing spending on oil, gas, and coal. While higher financing costs are holding back certain types of investments, lower prices are offsetting some of the impact. Investments in renewable power, grids, and storage have seen significant growth. There are positive signs of increased clean energy investments in emerging economies, with significant progress in India, Brazil, Southeast Asia, and Africa. However, more efforts are needed to ensure full access to modern energy and meet growing energy demand sustainably. Solar PV technology is projected to lead power sector investments, with solar and wind deployment driving a shift towards clean power. The ratio of clean power investments to fossil fuel power investments has increased from 2:1 in 2015 to 10:1 in 2024.