WEMO24-Compiled Report-Interactive compressed (002) 4154-7882-8116 v.1 - Flipbook - Page 208
Market Data
Physical Energy Flows
HOME
ENERGY IN
THE REGIONS
Renewables
FIGURE 15
Global annual investment in the power sector by technology, 2021-2024E
Advenced economies
• Investment in renewable power rose rapidly
across the board, with promising momentum for
spending on grids, nuclear and battery storage
in 2024
China
• Grid investment in EMDE outside China grew by
an impressive 15%, reaching almost $80 billion
in 2023
Other EMDE
Billion $ (2023, MER)
400
300
200
100
FFP
Nuclear
BESS
REP
2021
Grids
2022
FFP
Nuclear
2023
BESS
REP
Grids
FFP
Nuclear
BESS
2024
Notes: REP = renewable power. FFP = fossil fuels power. BESS = Battery Energy Storage System. Investment spending on BESS in other EMDE is so small
(USD 2 billion in 2024e) that it can almost not be detected on the chart. 2024e = estimated values for 2024.
WEMO 2024
Grids
208
REP
