Connect with us

Energy

Ranked: The Top 10 Countries by Energy Transition Investment

Published

on

Subscribe to the Elements free mailing list for more like this

Energy transition investment

Ranked: The Top 10 Countries by Energy Transition Investment

This was originally posted on Elements. Sign up to the free mailing list to get beautiful visualizations on natural resource megatrends in your email every week.

More than 130 countries have set or are considering a goal of net-zero emissions by 2050.

Achieving net-zero on a global scale, however, requires $125 trillion in climate investment by 2050, according to research commissioned by the United Nations Framework Convention on Climate Change (UNFCCC).

While that level of investment hasn’t been achieved yet, it’s ramping up. In 2021, the world spent $755 billion on deploying low-carbon energy technologies, up 27% from the year prior.

This graphic highlights the top 10 countries by low-carbon energy investment in 2021 using data from BloombergNEF.

Energy Transition Investment by Country

The top 10 countries together invested $561 billion in the energy transition, nearly three-fourths of the world total.

Country2021 Energy Transition Investment (US$)% of World Total
China 🇨🇳$266B35.2%
U.S. 🇺🇸$114B15.1%
Germany 🇩🇪$47B6.2%
U.K. 🇬🇧$31B4.1%
France 🇫🇷$27B3.6%
Japan 🇯🇵$26B3.4%
India 🇮🇳$14B1.9%
South Korea 🇰🇷$13B1.7%
Brazil 🇧🇷$12B1.6%
Spain 🇪🇸$11B1.5%
Total$561B74.3%

China increased its overall energy transition investment by 60% from 2020 levels, further cementing its position as a global leader. The country’s wind and solar capacity increased by 19% in 2021, with electrified transport also accounting for a large portion of the investment.

Next, the U.S. invested $114 billion in clean energy last year, up 17% from 2020. Several European countries also made the top 10 list, with Germany, U.K., and France rounding out the top five. In total, European countries invested $219 billion in the energy transition.

Which Low-Carbon Technologies are Attracting Investment?

While the top 10 countries provide an overview of where investments are being made, it’s also interesting to see which sectors are seeing the biggest influxes of capital.

Here’s a breakdown of energy transition investment by sector in 2021:

Technology/SectorTotal Investment in 2021 (US$)% change from 2020
Renewable energy$365.9B6.8%
Electrified transport$273.2B76.7%
Electrified heat$52.7B10.7%
Nuclear$31.5B6.1%
Sustainable Materials$19.3B141.3%
Energy Storage$7.9B-6.0%
Carbon capture & storage$2.3B-23.3%
Hydrogen$2.0B33.3%
Total$754.8B26.8%

Renewables accounted for nearly 50% of total investment in 2021. However, electrified transport drove much of the growth as several countries charged ahead in the shift to electric vehicles.

Nuclear power also racked up roughly $32 billion in investments, as conviction grows that it can deliver reliable, carbon-free electricity. But the biggest overall percentage gain was seen in sustainable materials including recycling and bioplastics, which saw investment activity more than double in 2021.

Given that the dawn of clean energy is still in its early hours, technologies in the sector are constantly evolving. As the race to net-zero continues, which energy technologies will draw even more investment in the future?

Click for Comments

Energy

Ranked: Electric Vehicle Sales by Model in 2023

Today, electric vehicle sales make up 18% of global vehicle sales. Here are the leading models by sales as of August 2023.

Published

on

The Highest Electric Vehicle Sales, by Model

Ranked: Electric Vehicle Sales by Model in 2023

Electric vehicle (EV) sales are gaining momentum, reaching 18% of global vehicle sales in 2023.

As new competitors bring more affordable options and new performance features, the market continues to mature as customers increasingly look to electric options.

This graphic ranks the top-selling EVs worldwide as of August 2023, based on data from CleanTechnica.

The Best Selling EVs in 2023 (Through August)

Below, we show the world’s best selling fully electric vehicles from January to August 2023:

ModelCountryVehicles Sold
(Jan-Aug 2023)
Tesla Model Y🇺🇸 U.S.772,364
Tesla Model 3🇺🇸 U.S.364,403
BYD Atto 3 / Yuan Plus🇨🇳 China265,688
BYD Dolphin🇨🇳 China222,825
GAC Aion S🇨🇳 China160,693
Wuling HongGuang Mini EV🇨🇳 China153,399
GAC Aion Y🇨🇳 China136,619
VW ID.4🇩🇪 Germany120,154
BYD Seagull🇨🇳 China95,202

As we can see, Tesla‘s Model Y still holds a comfortable lead over the competition with 772,364 units sold. That’s more than double the sales of the #2 top selling vehicle, Tesla’s Model 3 (364,403)

But it’s hard to ignore the rising prevalence of Chinese EVs. The next five best selling EV vehicles are Chinese, including three from BYD. The automaker’s Atto 3 (or Yuan Plus, depending on market), is being sold in various countries including Germany, the UK, Japan, and India.

Meanwhile, Chinese automaker GAC Group also had two models of its Aion EV brand make the rankings, with the Aion S selling 160,693 units so far.

Regional market strength is also clear. For Volkswagen’s ID.4 model (120,154 units sold), Europe and China account for the majority of sales.

Given growing cost efficiencies and changing consumer behavior, global EV sales are projected to make up half of new car sales globally by 2035, according to forecasts from Goldman Sachs.

Continue Reading
NOVAGOLD. Pure Gold. Precious Opportunity.

Subscribe

Popular