Switched On Investors Bet $2 Trillion on the Energy Transition
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Feb 27, 2025 Meredith Annex, Head of Clean Power at BNEF, brings her expertise to discuss the groundbreaking $2 trillion investment in the energy transition. She highlights the dominance of solar energy and the critical shift towards power grid and energy storage investments. The podcast delves into the contrasting trends in onshore and offshore wind, the emergence of small modular reactors in nuclear energy, and the underrated significance of heat pumps in decarbonizing sectors. It's a vital listen for anyone interested in the future of clean energy!
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Energy Transition Investment Trends
- Global energy transition investment exceeded $2 trillion for the first time in 2024.
- Investment growth slowed, with traditional sectors like renewables and grids dominating.
Solar Power Dominates
- Solar power dominated renewable energy investments in 2024, driven by cheap module prices.
- This trend benefited both established and emerging markets globally.
Energy Storage Growth
- Energy storage investments grew significantly, exceeding the 2023 record.
- Falling battery prices and new revenue opportunities are driving this growth.