Flagship report
World Energy Investment 2024
Investment
Choices shaping our energy futures
Key findings
The world now invests almost twice as much in clean energy as it does in fossil fuels
Global is set to exceed USD 3 trillion for the first time in 2024, with USD 2 trillion going to clean energy technologies and infrastructure. Investment in clean energy has accelerated since 2020, and spending on renewable power, grids and storage is now higher than total spending on oil, gas, and coal.
Yet much more needs to be done. In most cases, this growth comes from a very low base and many of the least-developed economies are being left behind (several face acute problems servicing high levels of debt). In 2024, the share of global clean energy investment in outside China is expected to remain around 15% of the total. Both in terms of volume and share, this is far below the amounts that are required to ensure full access to modern energy and to meet rising energy demand in a sustainable way.
Yet much more needs to be done. In most cases, this growth comes from a very low base and many of the least-developed economies are being left behind (several face acute problems servicing high levels of debt). In 2024, the share of global clean energy investment in outside China is expected to remain around 15% of the total. Both in terms of volume and share, this is far below the amounts that are required to ensure full access to modern energy and to meet rising energy demand in a sustainable way.
Global investment in clean energy and fossil fuels, 2015-2024
OpenFeatured analysis
Events
06 Jun 2024 11:00—11:40
World Energy Investment 2024
04 Dec 2023 13:30—15:30
IEA at COP28: Financing the global energy transition
03 Dec 2023 15:30—17:00
IEA at COP28: Country sector platforms – Building the basis for scaled-up and accelerated climate action
20 Sep 2023