Paris [France], June 6: The International Energy Agency (IEA) said that global energy investment is set to increase in 2025 to a record US$3.3 trillion despite headwinds from elevated geopolitical tensions and economic uncertainty, with clean energy technologies attracting twice as much capital as fossil fuels.
In its new World Energy Investment 2025 report, IEA stated that investment in clean technologies - renewables, nuclear, grids, storage, low-emissions fuels, efficiency and electrification - is on course to hit a record US$2.2 trillion this year.
The report explained that investment in solar, both utility-scale and rooftop, is expected to reach US$450 billion in 2025, making it the single largest item in the global energy investment inventory. Battery storage investments are also climbing rapidly, surging above US$65 billion this year.
Lower oil prices and demand expectations are set to result in the first year-on-year fall in upstream oil investment since 2020, according to the report, with an expected 6 percent drop driven by lower oil prices and demand expectations.
Source: Emirates News Agency
