IEA expects energy investment to exceed $3 trillion this year

Foreign Minister confers with U.S. Ambassador over bilateral relations

The Minister of Foreign Affairs and Expatriate Dr. Shaya Zindani discussed today, Wednesday, with the United States Ambassador to the Republic of Yemen Steven Fagin the bilateral relations and cooperation between the two friendly countries.

Massive 7.0 Magnitude Earthquake Strikes Alaska, USA

A powerful 7.0 magnitude earthquake struck Alaska, USA, yesterday evening, according to the United States Geological Survey (USGS).

China's ETF market hits record $855.6

The combined scale of China's exchange-traded funds (ETFs) has hit a record 6.02 trillion yuan ($855.6 billion), up more than 2.2 trillion yuan from the end of last year, Shanghai Securities News reported Saturday, citing data from Choice, a financial information provider.

Arsenal defeats Brighton and strengthens its lead in the English Premier League

Arsenal defeated Brighton 2-1 in their match at the Emirates Stadium as part of the 18th round of the English Premier League.

Last Update: ، 2025/12/31 Time 02:45:57
Latest News:

President al-Alimi Affirms Strict Commitment to Enforcing Sovereign Decisions, Warns of Rebellion against ..

Germany reiterates its commitment to Yemen's unity, sovereignty, official leadership

Somalia affirms its steadfast support for Yemen's sovereignty, rejects any threats to Saudi Arabia's ..

Jordan Reaffirms Support to Yemen's Legality, Respecting Sovereignty

President al-Alimi urges international community to help translate sovereign decisions into practical ..

IEA expects energy investment to exceed $3 trillion this year

[06/06/2024 12:25]

LONDON-SABA
The International Energy Agency (IEA) predicted in a report that total investment in global energy will exceed three trillion dollars for the first time in 2024.

The IEA said in its annual global energy investment report released on Thursday, "About two trillion dollars are set to go to clean energy technologies, including renewables, electric vehicles, nuclear power, grids, storage, low-emission fuels, efficiency improvement and heat pumps, with the rest going towards gas, oil and coal."

Joint investment in energy and renewable grids exceeded the amount spent on fossil fuels for the first time in 2023.

IEA Executive Director Fatih Birol said, "For every dollar that goes to fossil fuels today, nearly two dollars are invested in clean energy, and the rise in clean energy spending is being supported by strong economies, ongoing cost cuts and energy security considerations."

China is set to account for the largest share of clean energy investment in 2024 with an estimated $675 billion, while Europe is set to have $370 billion and the United States $315 billion.

Spending on solar PV is more concentrated than any other electricity generation technology, and investments are expected to grow to $500 billion in 2024, due to lower prices for solar modules.