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Ankush Sharma
Business Consultant ... • 3m
"Age of Electricity" is drawing closer. The latest report published by IEA highlights the investments across hashtag#energy sector. Key takeaways produced below: 1. Global hashtag#investment is expected to rise by 2% to $3.3 trillion this year. China is by far the largest single investor in energy, spending almost as much as the United States and the European Union combined. 2. Around $2.2 trillion is going collectively to hashtag#renewables, hashtag#nuclear, hashtag#grids, hashtag#storage, hashtag#low-emissions fuels, efficiency and electrification – twice as much as the $1.1 trillion going to oil, natural gas and coal. This reflects the growing influence of industrial policy, hashtag#energysecurity concerns and the cost competitiveness of electricity-based solutions, in addition to efforts to reduce emissions. 3. hashtag#Investment trends show a new "Age of Electricity" is drawing nearer. A decade ago, investments in fossil fuel supply were 30% higher than those in electricity generation, grids and storage. This year, electricity investments are set to be some 50% higher than the total amount being spent on bringing oil, natural gas and coal to market. However, investment in grids, now at $400 billion per year, is failing to keep pace with spending on generation and electrification. 4. hashtag#Globally, spending on low-emissions power generation has almost doubled over the past five years, led by solar PV. Investment in solar is expected to reach $450 billion in 2025, making it the single largest item in the global energy investment inventory. 5. Spending patterns remain very uneven globally. For example, hashtag#Africa accounts for just 2% of global clean energy investment today, despite being home to 20% of the world’s population.
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