by By Forrest Crellin
Paris (Reuters) -A rise in expenditure for clean energy is expected to be a record of $ 3.3 trillion (2.89 trillion euros) in 2025 in global energy investments, despite economic uncertainty and geopolitical tensions, said the International Energy Agency (ICE) on Thursday.
Technologies for clean energy, including renewable energy sources, nuclear and energy storage, will attract $ 2.2 trillion in investments, twice the amount expected for fossil fuels, the IEA said in its annual World Energy Investment Report.
“The rapidly evolving economic and trading view means that some investors use a wait -and -see approach to new approvals from the energy project, but in most areas we still have to see important implications for existing projects,” said IEA executive director Fatih Birol.
Solar energy is expected to be the largest beneficiary, whereby the investment prediction will reach $ 450 billion in 2025, while expected battery storage expenses will be expected to increase to around $ 66 billion, according to the report.
Batteries are seen as a way to reduce the intermittency of renewable energy projects, by saving the power during peak facilities and discharging during peak demand, but investments in technology have remained in solar and wind energy.
The investment in oil and gas, on the other hand, is expected to fall, with electric oil investments that fall by 6% in 2025, driven by lower oil prices and question expectations and the first decrease since the COVID crisis in 2020.
The IEA also warned that the investments in rasters of $ 400 billion per year are lower than the spending for generation and electrification, which can pose a risk of electricity security.
Raster investments will have to rise to almost parity with generation -spending by the early 2030s to maintain electricity protection, but this is stopped by bureaucracy and sleek supply chains for transformers and cables.
Expenditure patterns remain very uneven worldwide, with a lot of developing economies having difficulty mobilizing capital for energy infrastructure, while China dominates global investments in clean energy on almost a third of the total.
(1 euro = $ 1,1414)
(Reporting by Forrest Crellin, editing by Ed Osmond)
