WEMO24-Compiled Report-Interactive compressed (002) 4154-7882-8116 v.1 - Flipbook - Page 309
Market Data
Climate Data
HOME
ENERGY IN
THE REGIONS
Investments
FIGURE 7
Global annual investment in power generation by selected technologies, 2021-2024
• Global spending on renewables also hit a new
record of $735 billion, driven by solar PV and
wind
Billion $ (2023, MER)
500
• Solar PV attracted a record $480 billion in
spending in 2023 – more than all other generation
technologies combined – while investment in
coal power has fallen by 40% since 2021
400
• While investment in nuclear power remained
largely unchanged in 2023, expected growth
of around 20% in 2024 promises renewed
momentum.
300
200
Wind
Hydro
2021
Source: IEA
2022
Nuclear
2023
Coal power
2024e
Gas power
309
Solar PV
WEMO 2024
100
