Global clean energy investment to hit $2 trillion in 2024, smashing fossil fuels

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According to a report from the International Energy Agency (IEA), global investment in clean energy technology and infrastructure is projected to reach $2 trillion this year, doubling the amount allocated to fossil fuels. The IEA’s annual World Energy Investment report anticipates total energy investment to surpass $3 trillion for the first time in 2024. Of this, approximately $2 trillion will be allocated to clean technologies, encompassing renewables, electric vehicles, nuclear power, grids, storage, low-emissions fuels, efficiency enhancements, and heat pumps. The remaining funds will be directed towards gas, oil, and coal.

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