Insights
Clean Energy Outlook
Globally, the International Energy Agency (IEA) reported a total clean energy investment of $1.8 trillion in 2023, marking a 10% annual growth rate since 2019. Despite geopolitical turbulence, high interest rates, and cost inflation, this investment showcases the resilience of the clean energy transition.
The Energy Transition Investment Trends 2024 report, published by BloombergNEF, highlighted electrified transport as the largest sector for spending, growing by 36% to $634 billion, surpassing the renewable energy sector, which saw an 8% increase to $623 billion. Investment in power grid infrastructure reached $310 billion, reflecting its critical role in enabling the energy transition.
From a regional perspective, the U.S. and Europe drove the global rise in renewable energy investment, despite China experiencing an 11% drop. Emerging areas such as hydrogen, carbon capture and storage, and energy storage also witnessed significant growth, with investments tripling, nearly doubling, and increasing by 76%, respectively.
Within the U.S., a report by the Rhodium Group and MIT unveiled a surge in clean technology investment to $67 billion in the fourth quarter of the previous year, a 40% increase compared to 2022. Notably, investments in emerging climate technologies such as clean hydrogen, sustainable aviation fuel, and carbon capture and utilization experienced a tenfold surge in the fourth quarter of 2023, showcasing increasing interest in transformative climate solutions. However, investment in wind energy declined by nearly 40% in the same period due to persistent supply chain issues. Investment in residential energy solutions like solar and batteries also remained stagnant or declined, highlighting potential hurdles in consumer adoption of green technologies.
environmental consulting Market Intel
The environmental consulting industry is experiencing significant consolidation and strategic partnerships. Here are some notable trends in mergers and acquisition:
Expansion of Service Offerings: integrated solutions with breadth and depth.
Geographic Expansion: broadening geographic footprint to expand total addressable market.
Digitization: The integration of technology is becoming increasingly crritical to harness productivity gains and cost savings.
CLIMATE TECH Monitor
Energy efficiency software solutions are essential for optimizing energy consumption, reducing emissions, and lowering operating costs. We have noted some key trends and opportunities:
Smart Building Technologies
Integration of AI and Data Analytics
Environmental Regulations:
As environmental awareness continues to grow, governments worldwide are implementing stringent regulations to address pressing environmental issues. Global trends that continue to dominate:
Carbon Neutrality Targets
Circular Economy Initiatives
Biodiversity Conservation
