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The Guardian - UK
The Guardian - UK
Business
Jillian Ambrose

Investment in clean energy likely to be double figure for fossil fuels in 2024, IEA says

IEA Fatih Birol Oil Electricity
Aerial shot of a solar farm on a barren hill
A solar farm in China, which is expected to lead the world in clean energy investment this year with spending on solar, lithium batteries and electric vehicles. Photograph: VCG/Getty Images

Global investment in low-carbon electricity will rise to 10 times as much as fossil fuel power this year due to an increase in spending on solar projects, according to the International Energy Agency.

The global energy watchdog has predicted that investment in clean energy including renewables and nuclear power as well as electric vehicles, power grids, energy storage, low-emissions fuels, efficiency improvements and heat pumps will reach $2tn this year.

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