IEA: Solar PV investment to surpass all technologies combined in 2024
- Admin
- Jun 6, 2024
- 1 min read
China accounted for nearly half of solar PV investments in 2023, with US$220 billion invested. The International Energy Agency (IEA) report predicts over US$500 billion investment in solar PV, surpassing other generation technologies. Clean energy technologies and infrastructure investment are expected to reach US$2 trillion in 2024. Growth of spending for renewables, especially distributed solar PV, is expected to continue at a slower pace in 2024 due to factors like grid concerns and permitting delays. Grid investment is increasing in Europe, the US, China, and Latin America, with an expected total of US$400 billion in 2024. Investments in Africa are rising, along with rising investments in rooftop solar PV installations, building efficiency, and electric vehicle purchases.
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