Global investment in energy efficiency
Global investment in energy efficiency across buildings, transport and industry reached about USD 660 billion in 2024 and has risen nearly 50% since 2019. On a net-zero pathway the IEA projects it needs to roughly triple to about USD 1.9 trillion by 2030.
Source: IEA — World Energy Investment 2024 / Energy Efficiency 2024 (2024)
What it means
Efficiency investment is large and growing, but the gap between today's spend and the net-zero pathway is wide. For industry that means rising policy support, incentives and pressure to act on efficiency — and that the cheapest decarbonisation, cutting waste before switching fuel, is exactly where the money is being directed.
Context
Energy efficiency is often called the 'first fuel' because using less energy is usually cheaper than supplying more. The investment figures span buildings, transport and industry; the industrial share funds motor systems, heat recovery, process optimisation, insulation and controls. The projected tripling reflects how central efficiency is to credible decarbonisation plans.
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