Renewables and energy efficiency declined by 3% in 2017
The International Energy Agency’s (IEA) recently released its latest review of global energy spending. In the report are provided data and figures on global energy investments, with set of data useful to decision makers, , the energy industry and financial institutions to set policy frameworks, implement business strategies, finance new projects and develop new technologies.
According to the report the electricity sector attracted the largest share of energy investments in 2017, sustained by robust spending on grids, exceeding the oil and gas industry for the second year in row, as the energy sector moves toward greater electrification.
Meanwhile, the report also finds that after several years of growth, combined global investment in renewables and energy efficiency declined by 3% in 2017 and there is a risk that it will slow further this year.
“Such a decline in global investment for renewables and energy efficiency combined is worrying,” said Dr Fatih Birol, the IEA’s Executive Director. “This could threaten the expansion of clean energy needed to meet energy security, climate and clean-air goals. While we would need this investment to go up rapidly, it is disappointing to find that it might be falling this year.”
You may read the complete press release here: https://www.iea.org/newsroom/news/2018/july/global-energy-investment-in-2017-.html