WEMO24-Compiled Report-Interactive compressed (002) 4154-7882-8116 v.1 - Flipbook - Page 310
Market Data
Climate Data
ENERGY IN
THE REGIONS
HOME
Investments
FIGURE 8
Top 10 economies for 2023 Energy Transition Investment
• The largest country for investment by far was
China, with $676 billion invested in 2023 –
equivalent to 38% of the global total. Although
China remains dominant, its lead has been
reduced
$ billion
China
675.9
USA
303.1
Germany
UK
Billion $ (2023, MER)
Renewable energy
95.4
Power grids
73.9
Nuclear
France
55.5
• Taken together, the European Union, USA and UK
outpaced China with $737 billion of investment
– a feat they hadn’t managed to achieve in 2022.
Investment in the USA jumped 22% year-on-year,
to $303 billion, as the e昀昀ects of the In昀氀ation
Reduction Act started to be felt
Energy storage
Brazil
34.8
Spain
32.2
Japan
32.0
Electri昀椀ed transport
India
31.4
Electri昀椀ed heat
Italy
29.7
CCS
Hydrogen
Clean industry
Clean shipping
EU-27
257.8
0
100
200
300
400
500
600
700
Notes: EU-27 bar also includes the EU member state shown. Rest of world is global investment excluding the EU
and individual economies in the chart. CCS refers to carbon capture and storage.
Source: BNEF
800
310
Rest of world
WEMO 2024
360.5
