2024 global clean energy investment forecast at $2 trillion, surpassing fossil fuels by IEA.

The International Energy Agency (IEA) forecasts that global investment in clean energy will hit $2 trillion in 2024, more than twice the amount allocated to fossil fuels. For the first time, combined investment in renewable power and grids surpassed the amount spent on fossil fuels in 2023. Despite pressures on financing, global investment in clean energy is set to reach almost double the amount going to fossil fuels this year, helped by improving supply chains and lower costs for clean technologies.