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IEA: Renewable Energy investment down 7% in 2017

written by Remo Bebié

The International Energy Agency (IEA) recently released its latest World Energy Investment report. Overall, global energy investment in 2017 was down 2% in real terms at USD 1.8 trillion, a level the agency deems insufficient "to keep up with energy security and sustainability goals".

For the first time in several years, combined investment in renewables and energy efficiency declined (by 3%), with investment in renewable power spending dropping by 7%. Still, global electricity investments exceeded those in oil and gas for the second year running even though the latter increased by 4% in 2017 (Guardian, Reuters, CNBC).

Fatih Birol, the IEA's Executive Director concludes that the "decline in global investment for renewables and energy efficiency combined is worrying [and] could threaten the expansion of clean energy needed to meet energy security, climate and clean-air goals."

The picture varies by country as well: CarbonBrief highlight that investment in renewable power in India topped fossil fuels for the first time in 2017. Their in-depth analysis of the 253-page report additionally covers key findings on electric vehicles, the stark declines in coal and nuclear power (18% and 43% down), as well as the continued decline in carbon capture and storage (CCS) investment.

Source: CarbonBrief

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