Global landscape of renewable energy finance 2023

Global landscape of renewable energy finance 2023

In 2022, global investment in energy transition technologies reached an all-time high of $1.3 trillion, 40% of which was in renewable energy (RES) projects.

Despite progress, current levels of green finance are insufficient to achieve the SDGs. In 2020, developing countries (70% of the world's population) received only 15% of total investment.

The first thing that International Renewable Energy Agency experts pay attention to is the need to develop decentralized energy solutions - autonomous renewable energy sources. In 2022, investments in this sector exceeded US$0.5 billion, but this is far short of the US$2.3 billion required under the Sustainable Development Agenda.

The second is increased investment in less mature technologies such as heating and cooling systems. The authors note a strong concentration of investors in projects related to photovoltaic energy.

The third is the need to expand international cooperation, redistribute finance from the North to the South, and increase the availability of credit instruments for developing countries.

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