Recent reports, based on the global clean energy pipeline, suggest that investments in renewables, clean tech, and energy infrastructure are expected to soar this year. This is not surprising given the increase in commitment to a green transition from governments around the globe. Nonetheless, the rate at which investment is growing is perhaps unexpected, as green energy funding rapidly increases to overtake oil and gas.
Investment in grids is expected to total around $400 billion in 2024, with new policies driving spending in Europe, the United States, China, and parts of Latin America. China will account for approximately 80 percent of this grid spending. Several countries are also investing heavily in battery storage to provide a more stable energy supply, with spending expected to exceed $50 billion worldwide this year.
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