In a world that continues to demand more and more energy, one of the most encouraging data—and perhaps least discussed with the emphasis it deserves—is the exponential growth of investments in clean energy. Although the global challenge of meeting this growing demand without worsening the climate crisis is enormous, the direction capital flows are taking is encouraging.
According to recent data from the International Energy Agency (IEA), global investment in clean technologies is reaching record levels. By 2025, US$2.15 trillion is expected to be invested in clean energy, which is double the amount allocated to fossil fuels. This growth curve can be clearly observed in the IEA's charts, which show an unprecedented acceleration over the last decade. This is not a passing fad: everything indicates that this trend will continue and even intensify in the coming years.
Something that is easily observed in the curve provided by the International Energy Agency, which I show below.
Why this boom? One of the keys is the spectacular reduction in the costs of renewable technologies. Solar photovoltaic and wind energy, for example, are not only cheaper than ever, but in many cases are already more competitive than fossil fuels. Furthermore, they have a considerable logistical advantage: they can be installed near consumption centers, reducing the need for large energy transport infrastructure.
However, we are still far from reaching the investment levels necessary to meet global climate goals. For the world to achieve a completely sustainable energy mix by 2050—as established by the IEA's net-zero emissions scenario—current investments would need to be multiplied to reach $4.5 trillion annually. Today, we are still less than half of that figure.
A crucial aspect in this energy transition is the role of emerging economies. It is estimated that more than 80% of the increase in energy demand in the coming decades will come from these countries, many of which still rely heavily on coal. The challenge is immense: how to ensure increasing and affordable energy access without repeating the polluting patterns of the past?
Fortunately, the signs are not all negative. Technological improvements, international cooperation, and the falling cost of renewables are opening up unprecedented opportunities for these countries. Green financing initiatives and public-private partnerships are helping to accelerate the transition in regions where it previously seemed unfeasible.
Another emerging player in this scenario is data centers, whose energy consumption is under scrutiny due to the unstoppable growth of artificial intelligence, cloud computing, and digital storage. Large technology companies are already taking steps: many are seeking to operate with 100% clean energy and are even exploring innovative solutions such as small-module nuclear power or geothermal energy, which is less intermittent than solar or wind power. Furthermore, significant improvements are being made in the energy efficiency of these centers, which will help moderate their impact.
All of this is part of one of the greatest challenges of the 21st century: the electrification of the economy. From transportation to heating, more and more sectors are replacing fossil fuels with electricity, which requires additional effort to ensure that this electricity is renewable and sustainable.
And if all this weren't enough, climate change is already here, manifesting itself in increasingly frequent extreme events. Time is ticking, and while current investments point in the right direction, they also remind us that we are still far from the goal. Speed urgers.
Therefore, although it may seem like we talk a lot about energy, climate, or the ecological transition, the reality is that we do so because the topic deserves it. It is, no more and no less, how we will ensure a livable, fair, and sustainable future for all.
The good news is that the wheels are already turning. The not-so-good news: it still needs to turn much faster.
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