Global Clean Energy Investment Predicted to Reach US$1.74 Trillion in 2023: A Detailed Breakdown

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Cindy Mutia Annur 29/05/2023 17:33 WIB

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The International Energy Agency (IEA) report estimates that global clean energy investment reached US$1.74 trillion in 2023. The majority of this investment was in renewable energy.

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Global Clean Energy Investment Predicted to Reach US$1.74 Trillion in 2023: A Detailed Breakdown

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Clean Energy Investment Value (2023)

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The International Energy Agency (IEA) report estimates that global energy investment will reach US$2.8 trillion in 2023. The majority, US$1.74 trillion, will be invested in clean energy.

This investment is largely focused on renewable energy, totaling US$659 billion, representing 37.87% of total global clean energy investment this year.

Investment in energy efficiency is recorded at US$377 billion, smart grids at US$331 billion, and electric vehicles at US$129 billion. Other end uses account for US$118 billion, nuclear power US$63 billion, battery storage US$37 billion, and low-emission fuels, utilization, and carbon capture storage US$26 billion.

“Consumers are investing in electrified uses. Demand for electric cars is exploding, with sales expected to surge by more than a third this year after breaking records in 2022,” according to the report titled *World Energy Investment 2023*.

According to the IEA, the high investment in clean energy in recent years is driven by various factors, including economic growth, volatile fuel prices, and increased policy support for climate and energy security in several countries, such as Europe, Japan, and China.

“This momentum is led by renewables and electric vehicles, with important contributions also from other areas such as batteries, heat pumps and nuclear power,” stated the IEA in its report.

Editor : Padjar Iswara

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Global Clean Energy Investment Predicted to Reach US$1.74 Trillion in 2023: A Detailed Breakdown

Global Clean Energy Investment Predicted to Reach US$1.74 Trillion in 2023: A Detailed Breakdown

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Global Clean Energy Investment Predicted to Reach US$1.74 Trillion in 2023: A Detailed Breakdown

Global Clean Energy Investment Predicted to Reach US$1.74 Trillion in 2023: A Detailed Breakdown

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