Finance and investments in Africa’s electricity grids need to more than triple by 2030 to meet sustainable development goals, including universal access. And while global clean energy investment has risen by 40% since 2020, reaching an estimated $1.8 trillion in 2023, almost all the recent growth has been in advanced economies and China. “Capital flows to clean energy projects in many emerging and developing economies remain worryingly low,” said the IEA. Some clean energy technologies, such as solar PV and onshore wind, are already cheaper than fossil fuel alternatives in many parts of the world. Access the International Energy Agency’s Reducing the Cost of Capital report.
