Global energy investments to reach $3.1t in 2024

Solar is leading the pack.

Energy investments from around the world are expected to reach $3.1t this year, reflecting a five percent annual growth from $2.4t in 2018.

According to the World Investment Report by the International Solar Alliance, global energy clean investment alone is expected to nearly double that of fossil fuels, increasing from $1.2t in 2018 to $2t by 2024.

Cheaper solar panel costs are inviting more capital into the sector, with solar energy representing around 59% or $393b of all renewable energy investments.

Per region, Asia Pacific is leading with $223b worth of investments into solar in 2023. Europe, the Middle East and Africa logged modest solar investment growth, with $91b in 2023, followed by the Americas with solar investments of $78b.