#Investment #IEA #Electricity #Efficiency
According to a Report by the International Energy Agency (IEA), investments in the electricity sector exceeded those in oil gas for the first time last year. Among notable mentions, China saw a 25% decline in coal-fired investments, while the US saw a sharp drop in oil and gas investment. Additionally, India was the fastest growing energy economy, spending up to 7% on energy related investments.
Total energy investment, however, dropped for the second year by 12% to $1,7 trillion (€1,5 trillion), with the share of clean energy spending reaching 43%.
More than half of global investments in energy efficiency was spent on buildings, including efficient appliances, which account for a third of the world’s total energy demand. The Report also suggests that, at this rate, China could overtake Europe – the largest spender on energy efficiency – within a few years.