According to the World Energy Investment 2023 recently released by the International Energy Agency (IEA), the global energy investment in 2023 will be about $2.8 trillion, of which more than $1.7 trillion is expected to be used in clean energy fields dominated by renewable energy, electric vehicles, etc., and the remaining about $1 trillion will be invested in fossil energy fields such as coal, natural gas and oil.
According to the IEA, for every $1 invested in fossil energy, approximately $1.7 is invested in clean energy. Meanwhile, driven by renewable energy and electric vehicles, annual clean energy investment is expected to increase by 24% between 2021 and 2023, while fossil fuel investment is only expected to increase by 15% during the same period.
Among them, investment in the solar energy industry will surpass that in oil for the first time in 2023: in 2023, an average of approximately $1 billion per day ($380 billion for the entire year) is invested in the solar energy industry, while investment in the oil production sector is $370 billion for the entire year
The IEA also pointed out that the increase in solar energy investment is mainly concentrated in "developed" economies such as the United States, Germany, Japan, or France. China is also one of the major solar energy investment countries. However, the contribution of other regions of the world to the growth of solar energy investment is very small.
The IEA also mentioned that in 2022, global investment in electrification in the transportation sector increased by 60%, and electric vehicle sales reached record levels, with global sales exceeding 10 million vehicles.
IEA predicts that global investment in electric vehicles will reach $130 billion in 2023, doubling compared to 2021.
