3.300 trillion investment in energy in 2025, China and clean energy in the lead, according to the IEA

"Amid geopolitical and economic uncertainties clouding the outlook for the energy world, we see energy security emerging as a key driver of global investment growth this year," said the executive director of the International Energy Agency (IEA).

"Today, China is by far the world's largest energy investor, spending twice as much on energy as the European Union – and almost as much as the EU and the United States combined," he adds, recalling that in 2015, it barely surpassed the United States in this area.

Investments in renewable and nuclear energy, storage and low-emission fuels, as well as in energy efficiency and electrification, are expected to reach a record $2.200 trillion, according to the IEA.

"Current investment trends clearly show that a new era of electricity is approaching," the IEA points out: investments in this sector are expected to be around 50% higher than the total amount spent on oil, natural gas and coal.

Ten years ago, investments in fossil fuels were 30% higher than those in electricity production and networks, she recalls.

Oil, natural gas and coal are expected to account for $1.100 trillion, with spending concentrated on oil and gas exploration in the Middle East.

The IEA estimates that falling oil prices and demand are likely to lead to the first decline in investment in the sector since Covid in 2020, mainly due to a sharp drop in spending on shale oil in the United States.

Conversely, investments in new liquefied natural gas (LNG) facilities will grow significantly. "Between 2026 and 2028, the global LNG market is expected to experience its largest ever capacity growth," the IEA estimates.

According to the Agency, investments in solar energy are expected to reach $450 billion worldwide by 2025, placing it in first place, while those earmarked for nuclear energy are expected to amount to around $75 billion, an increase of 50% over the last five years.

The IEA is concerned, however, that investments in electricity networks (cables, pylons, etc.), currently at $400 billion per year, "are failing to keep pace with production and electrification spending," which constitutes a "worrying sign for electricity security."

Grid investment would need to increase to reach parity with generation spending by the early 2030s, but "this is hampered by lengthy permitting procedures and strained supply chains for transformers and cables."

Finally, the strong growth in electricity demand is also benefiting coal, mainly in China and India. In 2024, China began construction of nearly 100 gigawatts (GW) of new coal-fired power plants, bringing global approvals for coal-fired power plants to their highest level since 2015, the IEA noted.