World’s $2.4 trillion energy transition spending in 2024
Illustration: Ashrafun Naher Ananna/TBS Creative
In 2024, global investment in energy transition technologies reached a record $2.4 trillion, up 9% from $2.2 trillion in 2023, with continued but slower growth in mature areas such as renewables, energy efficiency, grids and electrified transport. Investment in nascent technologies like green hydrogen and Carbon Capture and Storage (CCS) declined, while battery storage remained a notable exception, maintaining strong growth.
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