Global Energy Investment

Total energy investment worldwide, the shift toward clean energy, and spending by region and technology, from the IEA's World Energy Investment 2024.

Updated October 1, 2026
6 min read
1 source
Global

Executive Summary

Global energy investment was set to pass $3 trillion for the first time in 2024. About $2 trillion of that goes to clean energy technologies and infrastructure. Solar power alone was expected to attract more than $500 billion, more than all other power generation sources combined.

Key Numbers

Total energy investment, 2024: $3T+[1]; First year above $3 trillion.
Clean energy investment: $2T[1]; Clean technologies and infrastructure.
Solar PV investment: $500B+[1]; More than all other generation sources combined.
Upstream oil and gas: $570B[1]; Expected 2024 spending, up 7%.

Charts

Clean energy investment by region, 2024

Estimated clean energy spending in 2024. US value is a minimum ('more than'), China value is 'almost'.

China
$680B
European Union
$370B
United States
$300B

Unit: USD billion · 2024Source: [1] International Energy Agency (IEA)

Investment in selected technologies, 2024

Estimated 2024 investment by technology.

Solar PV
$500B
Grids
$400B
Nuclear
$80B
Battery storage
$50B

Unit: USD billion · 2024Source: [1] International Energy Agency (IEA)

Market Size

Global energy investment was set to pass $3 trillion for the first time in 2024, with $2 trillion going to clean energy [1]. Investment in oil, gas and coal was just over $1 trillion in 2024 [1].

By Technology

Solar PV: more than $500 billion [1]
Electricity grids: about $400 billion, up from around $300 billion a year since 2015 [1]
Nuclear: $80 billion, nearly double the 2018 level [1]
Battery storage: more than $50 billion [1]

Regional Analysis

China was set to spend almost $680 billion on clean energy in 2024 [1]. The European Union spends about $370 billion [1], and the United States more than $300 billion, 1.6 times its 2020 level [1].

Clean energy investment in Africa passed $40 billion in 2024, nearly double 2020 [1].

Fossil Fuel Supply

Upstream oil and gas investment was expected to rise 7% in 2024 to $570 billion, after a 9% rise in 2023 [1].

Methodology

All figures come from the IEA's World Energy Investment 2024 report [1]. 2024 values are IEA estimates made during the year. Where the IEA says 'more than' or 'almost', charts show the stated number.

Sources

[1]
World Energy Investment 2024: Overview and key findings / International Energy Agency (IEA) / 2024 / Accessed October 1, 2026 / View source

Figures are reproduced from the publishers above. Calculations marked as our own are derived from these figures. Always check the original source before using a number.

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