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Record $1.8 Trillion Investment in Global Clean Energy in 2023
Here is a report made by EY.
According to it:
- A historic $1.8 trillion investment in clean energy was made in 2023, highlighting the sector's role in transitioning to renewable energy and combating climate change.
- At COP28, over 100 nations pledged to triple renewable energy capacity by 2030, aiming to reduce fossil fuel dependency and cut emissions, though challenges like grid integration and rising capital costs remain.
- Solar and wind energy reached a record 30% of global electricity production in 2023, with leading contributions from China, the United States, and Germany, while battery storage systems are set to expand significantly by 2030.
Here are some insights to note regarding the clean energy industry:
- $75 billion - Allocated to clean energy by the US' Infrastructure Investment and Jobs Act by the end of 2023, as reported by the IEA
- $10.4 billion - Investment in hydrogen energy by the end of 2023 globally, as reported by BloombergNEF
